ETFs will gain traction in India: Paytm
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Mumbai : Paytm Money CEO Varun Sridhar told Bizz Buzz that the penetration of ETF currently stands a merely 0.2 per cent in the country, which was too low when compared to the penetration of 35 per cent in the USA.
It was merely four months back when Paytm Money had launched ETF platform and it now boasts of having 1,10,000 customers trading ETF at present, he said, adding that the ETF was having a potential to increase its penetration to 10-15 per cent over 2-3 years in the country.
Talking about the new segments of wealth management Paytm Money wants to foray in future, he said, "We plan to foray into segments like fixed deposit, sovereign gold bond, international equity and debt market in future. The idea is to fulfil customers' every desire relating to wealth management."
Replying to a query, he said that 10 per cent of the company's customers are investing in SIP and it does get 10 lakh transactions under the segment every month.
On the impact of Covid 19 on Paytm Money's business, he said that we have seen a rise of 60-80 per cent of our customer base during the period. Interestingly, 50 per cent of them are the first timers, he said.
