Paytm has partnered with SBI Mutual Fund to launch JanNivesh Rs 250 systematic investment plan, One 97 Communications Ltd. said.
This initiative was launched on Monday by Securities Exchange Board of India Chairperson Madhabi Puri Buch and State Bank of India Chairman C S Shetty. It enables users to begin their investment journey with just Rs 250, making financial growth accessible to all, according to an exchange filing.
JanNivesh offers flexible SIP options daily, weekly or monthly for young professionals and first-time investors looking for adaptable investment opportunities.
The initiative aims to empower merchant partners to make their first investment, helping them build long-term wealth for their business, it said. "Paytm pioneered QR code payments in India, driving the shift to mobile payments – now, it aims to bring the same transformation to the investment sector."
"The mutual funds market currently has over 100 million investors, and we are thrilled to be part of the journey towards expanding this to 300–400 million mutual fund investors," Chief Executive Officer Vijay Shekhar Sharma said.
Shares of One 97 Communications closed 1.35% higher at Rs 733.65 apiece on the BSE before the announcement, compared to a 0.08% advance in the benchmark Sensex.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
