New Delhi, Dec. 17 -- Shares of PB Fintech Ltd have fallen more than 7% over the past two trading sessions, as the Insurance Amendment Bill 2025 emerges as a potential headwind. The stock had only just begun to recover from recent goods and services tax (GST) changes.

Before delving into the insurance bill, it's worth understanding the GST impact. PB Fintech's online insurance broking business, policybazaar.com, earns commissions from insurance companies. Since 22 September, collection of insurance premiums has been exempt from GST, meaning the GST paid on commissions is no longer available as input tax credit. This has increased costs for insurers, some of whom may offset the impact by reducing the commission paid to brokers.

The exact...