Latest News
-
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns -
IRCON, RITES: 2 Multibagger Navratna Railway Stocks Potential To 17-24% Upside Ahead; Assigned BUY Rating -
AU Small Finance Bank Unveils New Products Including Rupay Credit Card
Paytm Money To Provide SIPs For Just Rs. 100
Paytm Money, the wholly-owned set up of One97 Communications, has come up with an app to sell mutual funds. The company has entered into partnership with as many as 25 asset management companies to sell direct plans of mutual funds. And as per the senior executive plans to sell mutual fund investment product to as many as 25 million people in the next 3-5 years time.
The company will be SIPs for as low as Rs. 100 as it targets retail investor class from Tier2-3 cities. As per reports, some 8.5 lakh individuals have already registered on the company's platform and these are primarily from beyond the top 15 cities.
The parent company has plans to invest a sum of $10 million into Paytm Money by the end of the current fiscal year 2018-19 for the various areas that include product development, designing, engineering, technology etc.
Last week, Berkshire Hathaways has also bought a stake in Paytm for an undisclosed amount to be now included in the list of company's key stakeholders' that include Ant Financial, SoftBank, Alibaba and SAIF Partners.
The company said that for buying mutual fund from the platform, the customers will not need to lock their funds in the company's wallet and instead can buying them directly using their bank account.
Goodreturns.in
