Mumbai, April 16 -- In March 2024, the board of the company had approved incorporation of a wholly owned subsidiary of the Company under the name and style of PB Pay Private Limited (PB Pay) to carry on the business of payment aggregator - domestic and / or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both.

The said subsidiary was incorporated in the following month of April.

In an exchange filing made post trading hours yesterday, the company informed that application of PB Pay for obtaining certificate of registration (CoR) as NBFC-Payment Aggregator (NBFC-PA) has been approved by the RBI.

Accordingly, the country's b...