Whalesbook
PB Fintech's board of directors met on May 11, 2026, approving key governance updates that include director re-appointments and the addition of a new Independent Director. The company announced that Mrs. Veena Vikas Mankar and Mr. Nilesh Bhaskar Sathe have been re-appointed for second five-year terms as Non-Executive Independent Directors. These renewals will run from June 19, 2026, until June 18, 2031.
Ms. Jyotsana Vempati Aggarwal was also appointed as an Additional Director, serving as an Independent Director for a five-year term commencing May 11, 2026. In related decisions, the board approved remuneration for Mr. Dhruv Shringi, who will serve as a Non-Executive Independent Director starting June 19, 2026, and sanctioned amendments to the company's Employees Stock Option Plan (ESOP) 2021.
These significant board changes are subject to shareholder approval, which will be sought through a postal ballot. The board composition will also see the departure of Mr. Kaushik Dutta, whose term expires on June 18, 2026, and who will not seek reappointment. Following his exit, the company's Audit Committee will be reconstituted.
These moves aim to ensure leadership stability and continuity at PB Fintech, a prominent player in India's digital financial services space operating Policybazaar and Paisabazaar. Independent directors are vital for corporate governance, providing essential oversight and strategic guidance.