Received SEBI nod as registered Investment Adviser: Paytm

By PTI  
Wednesday, March 7, 2018

New Delhi, Mar 7 (PTI) Financial services platform Paytm today said its wholly-owned subsidiary, Paytm Money, has received approval of market regulator SEBI to become a registered Investment Advisor.

The nod from the Securities and Exchange Board of India will allow the company to roll out investment and wealth management products to consumers across the country, Paytm said in a statement.

"Paytm Money is currently completing integrations with the respective compliance and regulatory authorities for KYC under the SEBI regulations. It is also integrating all leading AMCs (Asset Management Companies) in India," the statement added. 

The platform has planned a limited rollout of investment products, starting with direct plan mutual funds investments with zero commissions. The company will have a separate app available for both Android and iOS users.

"We are committed in our mission to make Wealth Management easier and more accessible for the masses. The SEBI approval to our request for an Investment Adviser license puts us on track for our planned launch date of April," Paytm Money Senior Vice President Pravin Jadhav said. PTI SR SA SA

Related Stories

Table report on Maratha quota issue in Maha Assembly: Congress
Table report on Maratha quota issue in Maha Assembly: Congress
YES Bank shares slump 6.5 pc after independent director's resignation
YES Bank shares slump 6.5 pc after independent director's resignation
Frankie Muniz engaged to girlfriend Paige Price
Frankie Muniz engaged to girlfriend Paige Price

Latest Stories

Australia warns India of sham marriage visa scams after busting Sydney-based racket
Australia warns India of sham marriage visa scams after busting Sydney-based racket
Centre can't lay hands on RBI's existing reserves of Rs 9.59 lakh crore; ECF panel mandate limited to future reserves only
Centre can't lay hands on RBI's existing reserves of Rs 9.59 lakh crore; ECF panel mandate limited to future reserves only
Facebook wants to figure out your family profiles and their interests
Facebook wants to figure out your family profiles and their interests
SPONSORED