India, April 16 -- Listed insurtech company PB Fintech's wholly-owned subsidiary PB Pay has received "in-principle" approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA).

". We are pleased to inform that RBI has granted an in-principle authorisation to PB Pay to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007 vide its letter no. CO. DPSS.AUTH.No. S48/02.27.004/2025-26 dated April 15, 2025," PB Fintech said in a filing with the exchanges.

The company, however, said that the authorisation is subject to compliance with the RBI guidelines for payment aggregators and gateways.

It is pertinent to note that the PA framework was first introduced by the central b...