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 in an interview, marking the transition of the company into a retail broking platform.
Paytm Money, 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,” added Sridhar.
Its new business model would involve a mix of commissions on intraday trades, interest income on loan against shares and subscription income from select services that will be launched over the next few months in a 60%-20%-20% mix.
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