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On March 5, the central bank announced open market operations to purchase INR 1 Lakh Cr in government securities, boosting Indian markets, with Sensex rising 1.55% and Nifty50 1.93%. Despite this, foreign institutional investors sold INR 24,753 Cr in equities this week.New-age tech stocks showed mixed performance; TBO Tek gained 12.67%, while PB Fintech fell 4.18% after its CEO settled an insider trading case. Overall, 24 out of 32 tech stocks ended the week positively, reflecting a broader market recovery amid global uncertainties.
Yashish Dahiya, CEO and cofounder of PB Fintech, has settled an insider trading case with the Securities and Exchange Board of India (SEBI) by paying INR 9.43 Lakh. The case involved a $2 million investment by PB Fintech FZ-LLC in YKNP, an outsourced marketing services provider. Dahiya settled without admitting or denying the findings.
PB Fintech is launching a wholly-owned subsidiary, potentially named 'PB Healthcare Private Limited,' to enhance healthcare services in India, with an investment of up to USD 100 million. The initiative aims to address inefficiencies in the insurance ecosystem, improve trust among stakeholders, and focus on the lifetime value of customers rather than traditional revenue models. The company plans to partner with hospitals and insurers to standardize operations and reduce claims discrepancies, potentially accelerating industry growth by 5% annually.
India has made significant strides in public health, notably achieving polio-free status in 2014 and executing a large-scale COVID-19 vaccination drive. However, with medical inflation at 14%, the Ayushman Bharat PM-JAY scheme aims to provide health insurance for the bottom 50% of the population. The evolving healthcare landscape was discussed by industry experts on ‘The Insurance Show’, focusing on improving affordability, availability, and access.
Yashish Dahiya
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transforming healthcare in india addressing affordability availability and access
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