Paytm Money launches ETFs to simplify investments; targets 1 lakh users in 12-18 months

Paytm Money is targeting 1 lakh users to invest in ETFs in the next 12 to 18 months via its platform. In India, there are 69 different types of ETFs available across the index, gold, equity and debt categories.

Paytm Money, the wholly-owned subsidiary of fintech giant Paytm, has announced the launch of Exchange-Traded Funds (ETFs) on its platform after approval from the Securities and Exchange Board of India (SEBI).

Using the Paytm Money app and the Paytm Money website, investors from across all financial and knowledge backgrounds can conveniently access ETFs and start their investment journey to accumulate wealth for their various financial goals, the company said in a blog post.

New investors can initiate an ETF investment with a simple nominal amount, starting as low as Rs. 16 in Equity, Rs. 44 in Gold and Rs. 120 for NIFTY.

"ETFs are investment avenues that everyone should add to their portfolio to earn index or market-linked returns at a lesser cost. At Paytm Money, 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," said Varun Sridhar, CEO of Paytm Money.

"We are offering a user-friendly interface along with necessary factors that the user may need to make an informed decision and invest in ETFs of their choice conveniently," he added.

Investors can track the price changes in the preferred ETFs and set a price alert as well. The platform also updates the 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.

Paytm Money is targeting 1 lakh users to invest in ETFs in the next 12 to 18 months via its platform. In India, there are 69 different types of ETFs available across the index, gold, equity and debt categories.