Its it in news PolicyBazaar’s PB Pay got RBI approval for Payment Aggregation. They approval was granted under the Payment and Settlement Systems Act, 2007. This was communicated via an letter by RBI on April 15, 2025.
Approval was got for this company PB Pay Pvt. Ltd. (PB Pay) whose parent company is PB Fintech Limited. We have seen last month PB Fintech got the board approval to invest Rs 696 crore or $80 million to its subsidiary PB Healthcare Services Pvt Ltd.
They got Approval from RBI in one year from the date they have submitted for approval.
Policy Bazzar the parent company is focusing on insurance business, having 9 million customers have bought insurance on Policy bazaar. Working with 51 insurers in India.
Recenthly Policybazaar and ICICI Lombard have announced thier strategic partnership. Also we have seen PB Fintech is trading at Rs 1,625 today.
Policy Bazzar is heavily focusing on advertising and spending approx 80 to 100 crores which is quite impressive amount for any business to grow and onboard new customers. We have also seen that Policybazaar and Paisabazaar revenue grew 39% to 2,375 Cr, ARR of 577 Cr, up from 388 Cr last year same quarter.
