Looking at India's soaring economic numbers, it is easy to forget that our economy didn't always look like this. Millennials and Gen Z have come of age during a period when India's economic star has been on the rise.
Recent data reveals that a staggering 83% of new investors who have registered in the past three years are under the age of 40, constituting nearly 60% of all market participants. Unsurprisingly, the majority within this demographic falls between the ages of 30 and 40. This is no surprise: after all, this is when most people begin their investment journeys in earnest because this is when we start earning enough to save and invest.
Enabling this increase in participation is India's fintech landscape, mobile and internet penetration and India's increasingly tech savvy populace that has helped in simplifying & making investments affordable. The democratization of financial services has substantially eased the process of investing and wealth-building for young Indians. However, there is still hesitation to invest owing to - lack of knowledge, small investment corpus, and the fear of losing said corpus. Thankfully, there are strategies to overcome these barriers.
When it comes to building investor knowledge and providing access to good information, Share.Market leads the pack. It elevates discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and great customer experience for investors and traders alike. It provides a wide spectrum of investment products allowing investors across different demographics to build a well-rounded and balanced portfolio, even if the initial investment is a small one.
For those dealing with limited investment capital, every rupee counts. Share.Market sets itself apart by offering zero platform fees and zero brokerage on WealthBasket transactions, a promotion valid until March 31, 2024. Moreover, brokerage charges for equity delivery and equity intraday trading are set at the lower of 0.05% or Rs. 20 per executed order. Additionally, Share.Market recently announced the removal of its onboarding fee of Rs. 199, making the sign-up process completely free.
Ujjwal Jain, CEO, Share.Market said, “The launch of Share.Market has garnered an exceptional response from the investor community. By eliminating the onboarding fees, Share.Market is now more accessible, removing any obstacles that may have hindered a quick entry into the investment world.” Talking about the purpose of this change, he said, “With this move, we aim to expedite the wider adoption of the KYC process, enabling more investors to become investment-ready, as we progressively introduce additional products atop our discount broking platform. Our commitment to zero brokerage on WealthBaskets remains in place until March 2024."
The next hurdle tends to be one of trust. India's fintech ecosystem is teeming with new players, and navigating this landscape can be overwhelming for novice investors. This is where Share.Market's distinguished lineage sets it apart. Share.Market is a part of PhonePe Wealth Broking and its affiliates. PhonePe stands as India's leading digital payments company, with over 490 million registered users and a vast network of over 36 million merchants, covering more than 99% of postal codes across India. Building on its prowess in digital payments, PhonePe has expanded its footprint into financial services, including insurance, mutual funds, stock broking, and lending, alongside various tech-enabled ventures.
This is not new territory for PhonePe, as the PhonePe Group is a conglomerate of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services. By addressing the traditional barriers to entry, PhonePe's Share.Market platform is making it easy for young Indians to start early, even if they start really small.
Moneycontrol Journalists were not involved in the creation of the article.
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