Paytm Money, a unit of Indian e-payments firm Paytm, has secured the go-ahead from Securities and Exchange Board of India (SEBI) to become a registered investment adviser.
The approval will allow the firm to introduce investment and wealth management products to customers.
The firm initially intends to roll out direct plan mutual funds investments with zero commissions, with an aim to offer investors maximum returns on investments.
In addition, the firm will also introduce a separate app for both Android as well as iOS users.
Paytm Money senior vice president Pravin Jadhav said: “We are committed in our mission to make Wealth Management easier and more accessible for the masses.
“The SEBI approval to our request for an Investment Adviser license puts us on track for our planned launch date of April. We are working with our partners to ensure our customers the simplest and most transparent consumer experience ever available in India.”