Paytm Money has launched Exchange-Traded Funds (ETFs) on its platform. To make it convenient for new investors, the platform is facilitating ETF investments for as low as Rs.16 in equity, Rs.44 in gold and Rs.120 for Nifty, the company said in a release.
Paytm Money is the wholly-owned subsidiary of digital financial services platform Paytm.
"ETFs are investment avenues that everyone should add to their portfolio to earn index or market-linked returns at a lesser cost. Our efforts have been to democratize and simplify wealth management for all and in the case of ETFs also we have simplified investing for everyone. We are targeting 1 lakh users to invest in ETFs in the next 12 to 18 months through the platform," Paytm Money CEO Varun Sridhar noted in a company release.
The platform's interface helps to track the price changes in the preferred ETFs and allows users to set a price alert. Also, it updates live prices of an ETF and allows investors to place a sell order during the open market hours and receive the money directly in their bank account. Investors also get the flexibility to invest via both the Paytm Money app and the Paytm Money website, the company statement said.
In India, there are 69 ETFs available across the index, gold, equity and debt categories.
