PB Money, the investment platform operated by a wholly owned subsidiary of PB Fintech, has received a licence from the Securities and Exchange Board of India (SEBI) to operate as an Online Bond Platform Provider (OBPP). The approval, announced on 27 October 2026, allows the platform to own the complete bond investment journey for retail investors, and gives the Policybazaar parent a regulated entry point into India’s fast-growing digital fixed-income market.
PB Money is run by PB Marketing and Consulting Private Limited, which is now a SEBI-registered OBPP and a stockbroker in the debt segment of the National Stock Exchange (NSE). That combination lets it offer new bond issues as well as trading in secondary-market bonds and debentures through the exchange.
End-to-end bond investing, with Paisabazaar as the front door
Under the licence, PB Money will handle every step of the investor journey, including:
- Onboarding and KYC for new investors;
- Discovery and comparison of bonds by yield, credit rating and ticket size;
- Order placement and payment coordination; and
- Post-investment servicing once the bonds are held.
Distribution will lean on group company Paisabazaar, the credit marketplace and free credit-score platform that says it has served more than 58 million consumers across 850 cities and towns. Users will be able to discover bond offerings on Paisabazaar and then move to PB Money to complete the transaction.
Why it matters
Bonds remain a small part of most Indian retail portfolios, even though they offer regular interest income and help diversify away from equities and fixed deposits. SEBI’s OBPP framework, introduced in 2022, was designed to bring that market online under tighter disclosure and investor-protection norms, and a growing list of fintechs and brokers have since entered the segment.
For PB Fintech, the move extends Paisabazaar’s reach beyond loans and credit cards into investments, giving its large base of credit-aware users a regulated route into fixed income.
“Bonds represent an important yet relatively underexplored fixed-income investment avenue for retail investors in India,” said Santosh Agarwal, Director, PB Money and CEO, Paisabazaar. He described the OBPP licence as a key step towards a seamless bond investing experience, and said the company sees significant potential to make a wider range of investment products accessible to consumers as their financial needs evolve.
The licence also positions PB Fintech to cross-sell investment products to a user base that already comes to Paisabazaar to check credit scores and compare loans and cards, a pairing of credit and wealth that several Indian fintechs are now chasing.
