PB Fintech Limited forms subsidiary for Account Aggregator business

The Board of Directors of PB Fintech Limited at its Meeting held today i.e., Monday, December 13, 2021, at 01:30 P.M. and concluded at 02:15 P.M. has considered and 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 Private Limited, a company incorporated under the provisions of the Companies Act, 2013.

Shares of PB Fintech Ltd was last trading in BSE at Rs. 1153.35 as compared to the previous close of Rs. 1132.95. The total number of shares traded during the day was 75027 in over 5748 trades.

The stock hit an intraday high of Rs. 1173.05 and intraday low of 1076.00. The net turnover during the day was Rs. 83415034.00.

Source : Equity Bulls

Keywords

PBFintech AccountAggregator MyLoanCareVentures Investment