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Update: Paytm launches investment arm Paytm Money

by Aakriti Shrivastava One97 Communications Ltd, that runs Paytm, has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products, the company said in a blog. The company is looking to selling these products to customers of its other new entity, Paytm Payments Bank. One97 Communications will reportedly invest close to $10 million upfront in Paytm Money Ltd. One97 has applied to the Securities and Exchange Board of India (Sebi) to launch a Paytm Money as a new wholly-owned subsidiary, the fourth product by the company after Paytm Wallet, Paytm Mall, and the most recent Paytm Payments Bank. Very happy to publicly unveil @PaytmMoney today! Time to #GoBig @BeingPractical & our team in Bangalore. Timely upgrade of my business card ? pic.twitter.com/YpVBVpA8Qb — Vijay Shekhar (@vijayshekhar) January 10, 2018 The new company will…

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