PB Fintech Limited, the parent company of Policybazaar, announced that its wholly owned subsidiary, PB Financial Account Aggregators Private Limited, has been granted a Certificate of Registration (CoR) by the Reserve Bank of India (RBI). This approval, received on October 21, 2024, allows the subsidiary to commence operations as a non-banking financial institution, acting as an Account Aggregator, without accepting public deposits.
The Certificate of Registration is valid from October 18, 2024. With this approval, PB Financial Account Aggregators Private Limited is now eligible to operate in the financial ecosystem by consolidating customer financial information across multiple platforms.
This move strengthens PB Fintech’s position in the financial services sector, further expanding its service portfolio. No withdrawal, cancellation, or suspension of the license has occurred, and the Certificate of Registration is fully valid, effective immediately.
