Paytm receives approval to sell investment and wealth management products

Paytm Money will start its offerings with direct plan mutual fund investments.

A unit of digital payments firm Paytm has received the approval of the capital markets regulator to sell investment and wealth management products, the company said in a statement on Wednesday.

Reuters

Reuters

The approval by the Securities and Exchange Board of India will allow Paytm Money Ltd to become a registered investment advisor, making it the first digital payments firm to sell products such as insurance and mutual funds in India.

Paytm Money will start its offerings with direct plan mutual fund investments, the statement added. Paytm also runs the country’s biggest e-wallet.




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