Spice Money and Religare Broking take the LIC IPO to rural households
Religare Broking – Spice Money aims to provide rural individuals with equal access to investment possibilities, bridging the rural-urban divide and increasing financial inclusion.
Furthermore, this partnership will provide access to aided digital platforms for over 95 percent of rural pin codes to participate in capital market-linked options such as equities, mutual funds, commodities, currency, and NPS to build wealth for the future.
The business cooperation will pave the road for widespread financial inclusion and financial freedom for rural investors who are new to the market.
Religare Broking and Spice Money
Religare Broking presently serves over 10 lakh Demat customers across 400+ cities in India through its pan-India network of 1100+ branches and business partners.
Spice Money, on the other hand, is a leading rural fintech firm with a network of over 10 lakh merchants (dubbed Spice Money Adhikaris) serving over 10 crore households throughout 700+ districts in India’s hinterlands.
While India has just seen “the best IPO year” in two decades (2021), with new-age technology businesses leading the way, the number of rural investors is exceptionally low due to a lack of access, awareness, and help.
Spice Money’s most inclusive and dependable high-growth community 1 million Adhikaris, who are regarded as respectable banking representatives, will serve as a one-stop shop for rural residents who wish to invest in LIC shares but are unsure where to start. Spice Money Adhikaris will help them register a DEMAT account, apply for the LIC IPO, and make future investments in other goods.
“We are happy to partner,” Sanjeev Kumar, Spice Money’s Co-Founder and CEO, remarked.
“Continuing our goal to offer easier investing experiences & new offerings, this time we are developing a big scale phygital DIY facility with Spice Money for opening Sabse Sasta Demat Account,” stated Gurpreet Sidana, COO, Religare Broking.
Religare Broking has unveiled a new offering for new-to-market consumers, including the people, that includes zero commission on delivery trades, zero fee on non-profitable intraday trades, and options trading for Rs.5 per lot.
Our self-service account opening and trading platforms are supported by cutting-edge new-age technology and a streamlined trading experience. An investor can easily and economically participate in capital market related opportunities regardless of ticket size or location.”
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