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Financial services platform Paytm on Wednesday said its wholly-owned subsidiary, Paytm Money, had received SEBI approval to become a registered investment advisor. It will allow the company to roll out investment and wealth management products to consumers across the country, Paytm said.
“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 in India,” the statement added.
The platform has planned a limited roll-out of investment products. 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 licence puts us on track for our planned launch date of April,” Paytm Money Senior Vice-President Pravin Jadhav said.
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