Paytm Money gets Sebi registration as research analyst, investment adviser

Paytm Money, a wholly-owned subsidiary of digital financial services platform One 97 Communications Limited, has received a certificate of registration from the Securities and Exchange Board of India (Sebi) to operate as a registered investment adviser, the company said in an exchange filing on Tuesday.

This authorisation enables Paytm Money, under the Sebi (Research Analysts) Regulations, 2014, to offer investment and wealth management services to consumers across the country.

According to the statement, these services will soon be integrated into the Paytm Money app as part of a research and advisory offering, empowering investors to make well-informed financial decisions.

“With this registration, Paytm Money Limited can offer Sebi-compliant research services, including investment insights, research reports, and data-driven analysis, the company said in a statement,” said One 97 Communications.

According to the company, Sebi approval aligns with their mission to make investment services more accessible and transparent for consumers across India.

“This milestone aligns with Paytm Money’s objective to expand its offerings in the investment ecosystem, enhance user experience, and provide expert-backed insights to both retail and institutional investors,” it said in the filing.

Earlier this month, Paytm had also launched UPI Trading Blocks (also known as Single Block Multiple Debits), a feature that enables seamless automatic payment deductions directly from bank accounts for equity trading. This new functionality allows investors to block funds in their accounts without needing to transfer large sums to broker apps in advance, ensuring a secure and efficient trading experience.

How an entity becomes a research analyst under Sebi regulations

Sebi defines a ‘research analyst’ as a person or entity responsible for preparing or publishing research reports, making investment recommendations, setting price targets, or offering opinions on public offers for listed or soon-to-be-listed securities. Registered intermediaries engaged in merchant banking, investment banking, brokerage, or underwriting services—unless specifically exempted—are classified as research entities under SEBI (Research Analysts) Regulations, 2014.

To register, individuals and partnership firms need a minimum net worth of Rs 1 lakh, while corporates and LLPs require Rs 25 lakh. Analysts must obtain certification from National Institute of Securities Markets (NISM) or another Sebi-recognised body and comply with trading, compensation, and disclosure norms.

Corporates and LLPs must appoint a compliance officer. Analysts making public recommendations must disclose their name, registration status, and financial interests in the subject company.