Paytm Money has seen more than 85,000 people apply to check the company’s bond platform that it launched on May 22, 2023 for retail investors, while 65,000 unique users are accessing the application, said Varun Sridhar, Chief Executive Officer at Paytm Money. While India has yet to go some distance to deepen retail participation in the bonds market, customers of Paytm Money have so far shown enthusiasm for tenures ranging from a few days to 39 years and for across bond categorie ..
Since the launch, we have witnessed approximately 65,000 unique users accessing the application, with an average usage time of nearly 10 minutes per session. This level of engagement reflects the strong interest and satisfaction among customers.
Varun Sridhar: Customers have demonstrated great enthusiasm for purchasing various types of bonds, including government bonds, corporate bonds, and tax-free bonds, spanning across different tenures ranging from a few days to 39 years. The investment amounts have been diverse, ranging from Rs. 100 to several lakhs, accommodating investors of all levels.
Government Bonds, offering a yield of approximately 7.2%, have been particularly popular among customers in recent days. ..
Government Bonds, offering a yield of approximately 7.2%, have been particularly popular among customers in recent days. ..
Corporate bonds issued by esteemed companies like Tata Capital, IndiaBulls Housing Finance, and PFC have also garnered significant attention from our customers. These bonds offer yields ranging from 8% to 14%, providing a wide range of options that align precisely with investors' risk profiles.
An important issue has been the removal of LTCG tax benefit on debt mutual funds. How has that changed the scenario?
An important issue has been the removal of LTCG tax benefit on debt mutual funds. How has that changed the scenario?
With the recent changes in the taxation of Debt Mutual Funds, direct investment in bonds has emerged as a compelling alternative to both fixed deposits and debt mutual funds. It's important to note that for bonds, interest income and short-term capital gains (less than 1 year) are taxed at the investors' marginal tax rate. Long-term capital gains (over 1 year) are taxed at a rate of 10% without indexation. Additionally, transactions involving bonds do not incur Securities Transaction Tax (STT) o ..
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