PB Fintech Limited's wholly-owned subsidiary, PB Pay Private Limited, has been granted an in-principle authorisation by the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator.
The authorisation, under the Payment and Settlement Systems Act, 2007, was communicated via RBI letter no. CO. DPSS.AUTH.No. S48/02.27.004/2025-26 dated April 15, 2025.
This in-principle approval is contingent upon PB Pay adhering to RBI's Payment Aggregator and Payment Gateway guidelines issued on March 17, 2020, and subsequent clarifications.
This follows PB Fintech's previous announcements on April 09, 2024, and March 20, 2024, regarding the incorporation of PB Pay to seek an NBFC-PA license from the RBI.