Paytm gets stock broking license

If you are also a Paytm user then this news might be of your interest, the e-wallet company is going to launch a new service soon. This service is being started for the first time from Paytm. About this, the company has given information in a blog post. If you also use this service of the company, then you can earn income from home. On the first day of the new financial year, Paytm, said that in the beginning of fiscal year 2019-20, Paytm has received a big approval. Under this, you can invest in the stock market through Paytm.

Approval for this service on 1st April

So far, many stock broking companies are working in the market, but PaytmMoney has received approval from April 1 for this. Stock Market regulator SEBI has approved Paytm Money, a subsidiary of Paytm, for this. Soon you will be able to purchase and sell shares from Paytm’s app. Prior to this, the mutual fund service has also been started.

Broker Membership for BSE and NSE

On behalf of the company it was said that the broker membership for the BSE and NSE has been received. Now the company will soon start investing and trading products with the stock exchange. Trading in equity and cash segment will soon be started on the platform of Paytm Money. However, no timeline has been fixed in this regard yet. In the coming months, millions of Indians can make better investments through the app. “We will provide a reliable investment platform to the users” said the company in their blog.

Paytm has joined hands with 24 mutual service providers for its new service. At present you get 7 to 9 percent return on fixed deposits in banks. Apart from this, the mutual fund can get an annual return of up to 15%. Investments made in mutual funds can also be risky and the return depends on the move of the stock market.