Paytm has received an approval from SEBI to bring its investment advisory arm, Paytm Money.
The license will permit the company to roll out investment and wealth management products across the country. The platform will provide limited roll out of investment products starting with direct mutual fund investments with zero commissions, which will offer customers maximum returns on their investments.
Furthermore, it will also launch a separate app, which will be available both Andriod and iOS users. Users get can early access on its website paytmmoney.com.
Paytm Money, Senior Vice-President, Pravin Jadhav stated, “We are committed to our mission to make wealth management easier and more accessible for the masses. The SEBI approval of our request for an investment adviser licence puts us on track for our planned launch date of April. We are working with our partners to ensure our customers the simplest and most transparent consumer experience ever available in India.”