PB Fintech said that the Reserve Bank of India (RBI) has granted inprinciple approval for setting account aggregator business to PB Financial Account Aggregators in its notification dated 10 January 2023.
Earlier, on 3 February 2022, the company had set up its wholly owned subsidiary 'PB Financial Account Aggregators' to apply to the RBI for obtaining Certificate of Registration (CoR) as NBFC-Account Aggregator (NBFC-AA).PB Fintech is an integrated online marketing and consulting Company and is in the business of rendering online marketing and information technology consulting/support services largely for the financial service industry, including insurance.
The company reported consolidated net loss of Rs 186.64 crore in Q2 FY23 as compared to net loss of Rs 204.44 crore in Q2 FY22. Revenue from operations surged 105.1% to Rs 573.47 crore in Q2 FY23 as against Rs 279.85 crore in Q2 FY22
The scrip was down 0.44% to Rs 465.85 on the BSE.
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