Government

June 21, 2017

Paytm Applies To RBI For Licence To Set Up A Money Market Mutual Fund


PaytmBank

It has been reported that Paytm has applied to the Reserve Bank of India (RBI) for a licence to set up a money market mutual fund that will enable the company to expand its financial offerings to consumers.

Paytm has applied to RBI to start the fund in the coming month, a move that will enable the company to increase revenues from financial services. The primary objective of a money market fund is to invest in short-term securities.

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