Paytm Money launches ETFs, aims for investment by 1 lakh users in 12-18 months

Fintech major Paytm on Monday said its wholly-owned subsidiary Paytm Money has launched Exchange-Traded Funds (ETFs) on its platform after approval from the Securities and Exchange Board of India (SEBI). An exchange-traded fund (ETF) is a collection of securities people can buy or sell through a brokerage firm on a stock exchange.

It updates 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, the statement said.

"ETFs are investment avenues that everyone should add to their portfolio to earn index or market-linked returns at a lesser cost...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," Paytm Money CEO Varun Sridhar was quoted as saying in a statement.