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Finance minister Nirmala Sitharaman will meet heads of fintech firms along with a Reserve Bank of India (RBI) deputy governor and top officials of stakeholder ministries on February 26 in the backdrop of the banking regulators action against Paytm Payments Bank, ET has learnt.
Finance Minister Nirmala Sitharaman will convene a meeting with fintech leaders, RBI officials, and representatives from key ministries on February 26 to address concerns following regulatory action against Paytm Payments Bank. The government aims to reassure the fintech industry of its priority status and understand their apprehensions. The meeting will involve officials from finance, information technology, and DPIIT.
PB Fintech s subsidiary, Policybazaar Insurance Brokers, has received approval to enter the reinsurance business. It reported a net profit of Rs 37.2 crore in Q3 with revenue from operations of Rs 871 crore. The company plans to apply for a payments aggregator license.
In conversation with moneycontrol, the founder says that only a few investors could see the real strength of the company, which includes his early investors like Info Edge.