The introduction of the new financial year seems to be a good start for Paytm. Market regulator Securities and Exchange Board of India (SEBI) has approved Paytm Money for stock broking services. That means they can now buy investor shares through the new approval from the regulatory body. Paytm has signed a partnership with BSE and NSE to start its stock broking services in India.
In a blog written on the official blog website, Paytm Money said that the company had received approval for stock broking services from SEBI. Soon, equity and cash segments, derivatives, ETFs, and other exchange-traded products can be traded on our platform.
Let us now say that Paytm Money has given its users the facility of investing in mutual funds. According to the report, in October last year, the company applied for a license for stock broking services. Presently there are 30 million registered users of Paytm – this large number of people will be able to trade in the stock market through their phones.
At present, there are over 10 lakh subscribers at Paytm Money. The division started in September 2018 and has already signed up with 25 Asset Management Companies.