PB Fintech Limited, the parent company of Policybazaar, announced on April 15, 2025, that its wholly owned subsidiary PB Pay Private Limited has secured an in-principle authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator.
The approval was granted under the Payment and Settlement Systems Act, 2007, as per the RBI’s letter dated April 15, 2025. PB Fintech had earlier informed exchanges in March and April 2024 about the establishment of PB Pay for this very purpose.
This in-principle approval, however, is conditional on PB Pay’s adherence to the RBI’s guidelines on Payment Aggregators and Payment Gateways, initially issued on March 17, 2020, and updated with clarifications on March 31, 2021.
With this regulatory green light, PB Fintech is set to further strengthen its presence in the digital payments ecosystem, complementing its core insurance and financial services business through enhanced transaction capabilities.
