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, now they can 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.
Exciting times ahead! #India’s @PaytmMoney, the wealth management arm of e-wallet @Paytm, who's also @Alipay's regional partner, will now be able to offer #StockBroking services such as investing & trading in equities, currency, commodities, ETFs and more. https://t.co/olU1U0lXL2
— Alipay (@Alipay) April 2, 2019
In a blog written on the official blog website, Paytm Money has said that the company has got 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 had 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 the Paytm Money. The division, which started in September 2018, has already signed up with 25 Asset Management Companies.