India, May 9 -- Fintech major PB Fintech, the parent company of Policybazaar and Paisabazaar, has received SEBI approval for its wholly owned subsidiary PB Marketing and Consulting to operate as a stock broker.

In an exchange filing, the company said that the licence is to offer stock broking services for the debt segment on the NSE.

Notably, a debt segment broker facilitates trading in fixed-income instruments like corporate bonds, government securities, and treasury bills.

PB Fintech said that the registration is valid from May 8, however, it is yet to receive the certification. The platform will compete with the likes of INDMoney, Wint Wealth and 5paisa in the space.

The move is part of the company's efforts to diversify its busine...