Paytm said its wholly-owned subsidiary Paytm Money has commenced Exchange-Traded Funds (ETFs) on its platform after regulatory nods from the Securities and Exchange Board of India (SEBI).
ETF or exchange traded funds are investment platform that every person should add to their portfolio to earn index or market-linked returns at a lesser cost. The CEO of Paytm Money Varun Sridhar in his statement says “We are offering a user-friendly interface together necessary factors that the user may need to make an informed decision and invest in exchange traded funds of their option conveniently
He added that the company is targeting one lakh users to invest in exchange traded funds in the next 1 to 1.5 years through the platform. "Paytm Money believes that exchange traded funds is an essential part of an investor's portfolio and all Indians must invest in it. Hence, the company has made it convenient for new investors by facilitating exchange traded funds investments for as low as Rs 16 in equity, Rs 44 in gold and Rs 120 for NIFTY. There are 69 varied kinds of exchange traded funds available across the index, gold, equity and debt categories. Paytm Money's platform helps to track the price changes in the preferred exchange traded funds and allows users to also set a price alert. Live prices of an exchange traded funds allows investors to place a sell order during the open market hours and receive the money directly in their bank account.
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