You may soon be able to buy MFs through Paytm
Paytm's subsidiary Paytm Money has received a green signal from SEBI to offer investment and wealth management products to consumers across the country.
Paytm is a mobile payment and e-commerce platform. It's an India-based company which started with online mobile recharge and bill payments and has an online marketplace today.
The company is currently completing compliance formalities with respective agencies as required by SEBI and is also integrating its back end with the leading Asset Management Companies in India to offer various services to its customers, said the company in a statement.
Paytm Money's offerings will start off with products like direct plan mutual fund investments with zero commission which will be provided through a separate mobile application.
The company plans to exploit its wide reach and target the mass market through its wealth management products. Paytm Money has scheduled the launch of its new application for the next month.