GST Directorate Conducts Search Operations at Policybazaar Parent PB Fintech Over Vendor Activities
GST officials conducted searches at PB Fintech, the parent company of Policybazaar, focusing on vendor compliance issues
The Directorate General of GST Intelligence ( DGGI ) carried out search operations at the offices of PB Fintech, the parent company of leading platforms Policybazaar and Paisabazaar. According to The Economic Times, the investigation focuses on certain vendors associated with one of its subsidiaries. According to an official company statement filed with stock exchanges, the searches...
The Directorate General of GST Intelligence ( DGGI ) carried out search operations at the offices of PB Fintech, the parent company of leading platforms Policybazaar and Paisabazaar. According to The Economic Times, the investigation focuses on certain vendors associated with one of its subsidiaries.
According to an official company statement filed with stock exchanges, the searches were conducted by the DGGI’s Gurugram team. PB Fintech has assured authorities of its full cooperation stating that it has already provided the necessary information and will continue to assist in the investigation as required.
The probe appears to center on vendors linked to PB Partners, Policybazaar's offline insurance distribution division. PB Partners supports a vast network of over 250,000 agents who sell insurance policies across the country. Specific details of the investigation remain undisclosed, sources familiar with the matter suggest the focus is on the vendors’ compliance with GST norms.
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PB Fintech’s Response
In its official filing, PB Fintech stated: “The company has extended full support to the GST officials by providing the required information and remains committed to cooperating with the department for any additional inquiries.”
About PB Fintech
PB Fintech manages two flagship platforms:
- Policybazaar: A digital marketplace for comparing and purchasing insurance policies.
- Paisabazaar: A credit distribution platform facilitating loans and credit card services.
Yashish Dahiya is the Co-Founder and CEO of PB Fintech Limited, better known as the parent company of Policybazaar and Paisabazaar, two of India’s leading platforms for insurance and financial services.
Under his leadership, the company has grown to become India's largest online marketplace for insurance and lending products, offering customers easy access to a variety of financial options.
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