India: Paytm Money forays into stockbroking

India: Paytm Money forays into stockbroking

FILE PHOTO: A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. REUTERS/Amit Dave

Paytm Money has entered stockbroking, primarily targeting those who are new to the field, in a challenge to established rivals such as Zerodha, and startups such as Groww and Upstox.

Paytm Money, a subsidiary of One97 Communications Ltd, which operates Paytm, has been planning to enter the stockbroking business from its inception in October 2018. It got permission from the Securities and Exchange Board of India (Sebi) in April 2019.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter