The Petty App, which provides online payment service, is now going to give you the opportunity to earn money sitting at home. Pettym got big approval in the financial year beginning April 1. So far utility bill, payment service, digital transaction, Patti is going to start the stock broking service. Stock Market Regulator SEBI has approved the grant of stock broking services to PettyM’s Subsidiary, PettM Money. Now through the app, you will also be able to invest in the stock market.
BSE, NSE membership also found
Paytm Money wrote in his blog that the company has got approval from SEBI for stock broking services. Apart from this, approval has also been received for stock exchange with the BSE and NSE. Equity and cash segment, derivatives, ETFs and other exchange traded products can be traded on the platform soon. However, no timeline has been fixed in this regard yet. In the coming months, millions of Indians can make better investments through Patiyam Money. We will provide a reliable investment platform to the users.
From the phone, Trading
PettyM had applied for license for stock broking in October, 2018. The company with 30 million users will now offer a large number of people the buying and trading facilities on their phones. Even if the company has not started this feature, the company is preparing a trusted platform for users and is working on the integration of both the exchanges and depositories.
The facility of mutual fund is also available for purchase of mutual fund already availableon the platform of ‘Peti Money’ platform. Last year, Petty started this service. For this, PettyM has tied up with 24 companies offering mutual funds. Let you know that the mutual fund gets an annual return of up to 15%. However, the return received in the mutual fund is based on the performance of the stock market.
KYC needs to be done if you want to invest money in the stock market or mutual fund through Ptyty Money, you have to make your KYC. For this, you have to download Paytm Money App. Through this, investors will be able to purchase stocks and mutual funds. The company expects that by 2023 investors of mutual funds will increase from 2 million to 5 million
What is the benefit to tell you that if you directly invest in mutual funds yourself then you will not have to pay any commission or fees separately. The special thing is that buying a mutual fund directly gives 1% more returns. In this way, investing in mutual funds from Petty Money will greatly benefit you.
$ 18 billion will be the valuation of PetiMi. It is a discussion that One 97 Communications is going to raise funding for the next round of $ 2 billion. This will bring the company’s valuation to around $ 18 billion. Japan’s investment firm Softbank and Chinese company Alibaba are among the big stakeholders of PetiMi. They hold 19 per cent and 38 per cent stake in Patiyam respectively.