PB Fintech’s board has approved the incorporation of the wholly owned subsidiary to carry on the business of an Account Aggregator (AA). The AA has to be licenced by the Reserve Bank of India (RBI). The incorporation will leverage the facility without external dependency on another Account Aggregators for information gathering, cost saving / revenue housing and offer seamless solutions.
The board also approved investment in MyLoanCare Ventures, a company incorporated under the provisions of the Companies Act, 2013. The Board of Directors of the company at its Meeting held on December 13, 2021, has considered and approved the same.
PB Fintech has built India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation. It provides convenient access to insurance, credit and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease and damage.
