Paytm sets up investment and wealth management unit for its users – Feedback

Mobile-first financial services platform Paytm on Tuesday announced the setting up of yet another company, ‘Paytm Money Limited’, a wholly owned subsidiary of One97 Communications, the firm that owns the Paytm brand, to build investment and wealth management products for its users.

Paytm Money will be the fourth consumer brand from the company after Paytm, Paytm Mall and Paytm Payments Bank.New brand will deal in money market fund where users would be able to store cash and earn interest. It is already in discussions with leading asset management companies (AMCs) to offer mutual fund investments in direct mode for users.

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