PB Fintech secures account aggregator licence from RBI

PB Fintech, the parent entity of Policybazaar and Paisabazaar, has secured the non-banking finance company-account aggregator (NBFC-AA) licence from the Reserve Bank of India (RBI) for a wholly owned subsidiary entity.

In a stock exchange filing on Monday, the Gurugram-headquartered company said that it received the certificate of registration on October 21. The business will be operated by its subsidiary entity PB Financial Account Aggregator.

An NBFC-AA is a special type of financial institution licenced by the central bank. It operates a network for the flow of financial data between multiple regulated institutions. Perfios, Setu, DigiO and such entities are the other regulated NBFC-AAs.


PB Fintech had secured the in-principle approval from the RBI in January 2023. Now with the registration, it can commence business operations.

In a recent interaction with ET, Paisabazaar chief executive officer, Naveen Kukreja said that he eventually wants to expand the scope of the credit marketplace by adding financial services like investment advisory and others.

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The Account Aggregator licence can assist Paisabazaar access the financial data of customers to help it make informed decisions.