
Now Paytm UPI users can trade on the stock market without paying money to the stock broker in advance; Here’s how
Paytm UPI will now support UPI trading blocks i.e. Single Block Multiple Debits, resulting in simplification of stock market trading and investing. Using this feature Paytm UPI users can now set up automatic payment deductions directly from their bank account for stock market transactions, without having to transfer large sums to their trading accounts on supported stock broking apps. This will enable Paytm UPI users to continue to earn interest on their savings account bank balance, until they make their actual stock market transactions, since funds remain in their bank account.
To say about this feature in a nutshell, the money from your bank account will only be deducted once you place the buy transaction on the stock market for buying any security. Like if you have Rs 10,000 in your bank account and want to buy shares of a company priced at Rs 1200 per share, then as soon as you hit the buy button for this share, the exact amount of money will be debited from your bank account. Earlier, you had to transfer the money from your bank account to the trading account and then place the buy order. After this the remaining balance would be transferred back to your bank account if unused. This delay is now eliminated through this UPI trading block feature.
Read below to know highlights of this UPI trading block feature and a guide on how to use it:
Highlights of the Paytm UPI Trading Block feature
According to the press release here are the details:
- Paytm's UPI Trading Blocks is built on NPCI’s infrastructure and