Paytm Money is planning a full-scale launch of its retail stock broking service in six to eight weeks, newly appointed CEO Varun Sridhar told ET in an interview, marking the transition of the company into a retail broking platform. The wealth management subsidiary of Noida-based One97 Communications Ltd is currently operating in an “early-access” beta mode, with the full set of features available only to about 80,000 Android-based existing users on its platform. Paytm Money, which till now only allowed users to invest in Mutual Funds , is targeting 250,000 new active users over the next year hoping to hit daily volumes of about 600,000 trades a day, said Sridhar. “We are planning to democratise the money management space for 300 million Indians,” said Sridhar, who recently replaced Pravin Jadhav who resigned as CEO earlier this year. Its new business model would involve a mix of commissions on intraday trades, interest income on loan against s...
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