PB Fintech's subsidiary PB Pay gets RBI nod to operate as online payment aggregator

PB Fintech Limited, the parent firm of Policybazaar, on Tuesday (April 15) announced that its wholly owned subsidiary, PB Pay Private Limited, has received an in-principle authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator.

"...we are pleased to inform that RBI has granted an In-Principle authorisation to PB Pay to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007 vide its letter no. CO. DPSS.AUTH.No. S48/02.27.004/2025-26 dated April 15, 2025," PB Fintech Limited said in a regulatory filing.

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The approval, granted under the Payment and Settlement Systems Act, 2007, was communicated via RBI’s letter dated April 15, 2025. This development follows earlier disclosures made by the company on March 20 and April 9, 2024, regarding the formation of PB Pay with the objective of seeking registration as a Non-Banking Financial Company - Payment Aggregator (NBFC-PA).

While the in-principle authorisation marks a significant milestone for PB Pay, the company clarified that the approval is subject to compliance with the RBI’s guidelines on the regulation of Payment Aggregators and Payment Gateways issued on March 17, 2020, and subsequent clarifications dated March 31, 2021.

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Shares of PB Fintech Ltd ended at ₹1,623.50, up by ₹91.00, or 5.94%, on the BSE.