Paytm Money gets SEBI Approval to Start Stock Broking Services

Paytm Money gets SEBI Approval to Start Stock Broking Services: Paytm Money, the investment and wealth management arm of mobile payment platform Paytm, has received approval from securities and capital markets regulator Sebi (Securities & Exchange Board of India) to start stock broking services. The company also said it had received the broker membership of exchanges BSE and National Stock Exchange, did not provide a timeline for starting such services In an official blog, the company wrote,

We will be introducing new capabilities and offerings on our platform, such as trading in equities & cash segments, derivatives, and exchange-traded products.

With this, we are moving closer to becoming a full-stack wealth management platform as we had set out, and inline with our vision & mission to bring wealth creation opportunities to millions of Indians.Our efforts will continue towards providing our users the simplest, most transparent and best investment experience in India.

Company also Wrote on official blog that:

• We are now starting with our integrations with both exchanges, depository and building our platform to offer you more investing & trading products.
• Ramping up our engineering, product & design teams to ensure we build the offer the most reliable investing platform to cater to millions of Indians.
• Also setting up our teams for market operations in Trade, Settlement, Depositories, Risk, Finance, Treasury and others. (PS: Were hiring)

The entry of players such as Paytm will intensify the pricing battle in the retail broking space and squeeze margins further.