PB fintech raided by Tax officials over evasion allegations

The Directorate General of GST Intelligence (DGGI) in Gurugram conducted a search at a subsidiary of PB Fintech Limited on January 13, 2025, as disclosed in the company's stock exchange filing. However, the filing did not specify which of its brand offices was raided.

PB Fintech is known for its flagship brands, such as Policybazaar and Paisabazaar, and specializes in offering financial products and advisory services in the online insurance and lending markets. The company has stated that it has provided the required information to GST officials and is prepared to cooperate further if the department requests additional details.

In its filing, the company emphasized that the raid has had no impact on its operations, stating: "At this point in time, there is no impact on the financial operations or other activities of the Company."

Tax evasion has become an increasingly pressing issue in the digital era, particularly with the introduction of new financial products. In response, the DGGI has intensified efforts over the years to tackle this problem and ensure compliance.​