PB Fintech to Invest Rs 20 Crore in Payments Subsidiary and Expand Dubai Operations
PB Fintech, the parent company of Policybazaar, has approved an investment of up to Rs 20 crore in its wholly owned payments subsidiary, PB Pay, to support business expansion and comply with Reserve Bank of India requirements for payment aggregators. PB Pay, incorporated in April 2024, has received RBI authorization but has not yet started commercial operations. Additionally, PB Fintech will establish two wholly owned step-down subsidiaries in Dubai's DIFC to enhance its financial services and insurance advisory presence overseas.