Paytm Money to Offer Mutual Fund Investments with Zero Commissions
As function of its ongoing efforts to venture into newer areas of the financial sector, Paytm has fabricated a couple of important announcements today that are expected to help the company expand its business in the face of increasing competition from unexpected quarters.
First off, the company says that its recently-appear wealth management arm, Paytm Money, has received the approving of the Securities and Substitution Board of India (SEBI), to deed as an investment adviser (IA). This paves the way for the company to offering investment and wealth management services to customers across the country. Paytm received the regulatory blessing last concluding calendar week, and is expected to start operations in a few calendar week's fourth dimension. You can register for early admission by clicking thru this link.
The company says it will start off with common funds, and is currently "integrating with leading AMCs (Asset Management Companies) in India (and) completing integrations with corresponding compliance and regulatory government for KYC (Know your Client) as per SEBI guidelines". The company likewise says that information technology will allow its customers to invest in common funds in Direct Way with aught commissions "along with many more exciting and like shooting fish in a barrel to use investment products".
The second announcement relates to the launch of the 'Paytm for Business' app that's meant to "simplify payments for the country's vast and various business organisation customs". The company had announced the service earlier this year. The app is already available on the Google Play Shop, and is expected to country on iOS soon. The app volition eventually be available in ten regional languages so as to "make managing business simpler for our partnered merchants and offer them the peace of heed".
Paytm has been looking to move beyond its mobile-wallet services and expand into newer and more lucrative areas of the financial sector, like loans and insurance. The company recently registered a couple of new insurance entities with the Registrar of Companies (RoC), giving rise to speculation that the firm will look at offering differentiated insurance products going forwards. The new companies, named 'Paytm Life Insurance Ltd' and 'Paytm General Insurance Corporation Ltd', are the newest ventures for One97 Advice (the holding company for Paytm) after Paytm Mall, Paytm Payments Bank and Paytm wallet.
Source: https://beebom.com/paytm-money-mutual-fund-investments/
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