wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

With SEBI approval, Paytm Money to offer stock trading ‘soon’

paytm

Paytm has confirmed that its investments arm, Paytm Money, had received approval from the Securities & Exchange Board of India (SEBI) to start stock broking, along with memberships to Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Paytm Money currently offers only mutual fund investments, for which it has partnered with 25 asset management companies. Separately, Paytm also sells insurance through its two entities Paytm Life Insurance Ltd and Paytm General Insurance Corporation Ltd. The approval had been reported by the Economic Times last month.

Following this development, Paytm will introduce trading in equities and cash segments, derivatives, ETFs and more exchange traded products. The company will begin integrating with both exchanges; ramp up its engineering, product and design teams; and set up new teams for market operations in trade, settlement, depositories, risk, finance, treasury and other areas, it said.

Paytm Money was set up last January to offer investment and wealth management products to customers of Paytm Payments Bank.

Flipkart-backed PhonePe, Paytm’s main competitor, entered the financial services sector with PhonePe Wealth Services in January this year, staring with selling mutual funds through its app, the Times of India reported.

On March 6, ET reported that Paytm Money had raised Rs 28.8 crore from parent One97 Communications. Paytm Money  also increased its authorised capital to Rs 200 crore.

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ