India's PB Fintech drops after regulator's penalty on online insurance unit
05/08/2025 05:35
** Shares of PB Fintech Ltd PBFI.NS drop 2.5% to 1,737 rupees ** India insurance regulator fines PBFI's online insurance aggregator, Policybazaar, 50 million rupees (around $570,000) for regulatory lapses ** Lapses include directorships held by key managerial personnel, tagging of policies and premium remittance ** Analysts tracking stock rate it "hold" on avg; median PT is 1,892.50 rupees - data compiled by LSEG ** Stock down ~18% YTD ($1 = 87.8100 Indian rupees) (Reporting by Nandan Mandayam in Bengaluru) ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))
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