Great good news has arrived. If you use any UPI apps like Paytm, Google Pay, WhatsApp, or Amazon Pay, you'll get this big benefit from January 1, 2024. Yes, reader, this is a big gift given to the countrymen by the Narendra Modi government.Â
You will get many benefits in the New Year 2024. Today this big decision was taken by the Central Government through NPCI for UPI users.
Unlocking Opportunities: UPI's Arrival in India's Stock Market Realm
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| UPI for Secondary Market |
Let us see what benefit you will get if you use Paytm Google Pay on your phone for Rs 2024. So this great update is coming out now. A notification was also issued by NPCI in this regard. According to this notification, UPI for the secondary market is going to start on January 1, 2024.
What did Kunal Saha of Credit say about this big decision of NPCI?Â
This is a big moment for India. He tweeted, "The news of UPI coming to the secondary market is a big movement for India. This is the biggest moment for India." This move is big. It increases the speed of money and the opportunity to reach same-day settlement for the stock exchange in India.
It is the first of its kind in the world. Do you understand the meaning?Â
It will increase the speed of money and opportunity in India. For the first time in the world, NPCI through UPI is implementing a system that will enable same-day stock exchange settlement. This is indeed a very big moment and it will change the entire financial market for India.
Now how will this step of UPI benefit the common people at the grassroots level? So after the launch of this system, you will be able to buy and sell shares directly through UPI from the new year 2024. This means that if you want to invest in the stock market of any company, then you will be able to invest immediately through UPI.
UPI for Secondary Market beta launch AppÂ
Grow is also serving as the brokerage app for the UPI for the Secondary Market beta launch. HDFC Bank, HSBC, ICICI, Yes all these banks are also sponsor banks for clearance, corporates, and exchange.Â
So the simple fact is that this big decision of UPI will revolutionize the stock market! Beta testing for the secondary market for the stock market is going to start from January 1.
That means NPCI will launch this UPI service for the secondary market on January 1. After that, by making UPI payment you will be able to buy the stocks of the company. What could be easier than this? Nowadays almost everyone uses UPI.Â
They will also be able to invest directly in the company's stock. Meaning, how big a deal this would be because in India very few people invest in the stock market.
Glad to announce the launch of 'UPI for Secondary Market' from 1st Jan’24 in its Beta phase for the equity cash segment, with collaborative support of key stakeholders including clearing corporations, stock exchanges, depositories, stockbrokers, banks & UPI app providers. pic.twitter.com/Lo3RDxyGQ9
— NPCI (@NPCI_NPCI) December 29, 2023
The situation in the Indian stock market is such that there is a lot of FPI coming in. Foreign Portfolio Investment: People from around the world invest in the Indian market.Â
They take advantage of the opportunities here. India is a growing and developing country. There are many opportunities here. Now people from outside are taking advantage of them.
Indians do not understand. They hesitate about how to invest in the stock market. They think about how to pay, what to buy, and how to sell. So to make this simple system easier, we will make payment through UPI.Â
According to our data, people in America are rich. This is because 61% of American people invest in the stock market.
This ratio is 61 out of 100 people. More than 60 people invest in the stock market. In India, only 3% of households are investing in the stock market. Now the ratio is so low. There is more opportunity in Indian companies.Â
To simplify the system, NPCI is going to launch UPI for the secondary market next Monday, January 1, 2024, New Year's Day.
Also Read:Â UPI New Update: You Need to Know if your using UPI
UPI for Secondary Market FacilityÂ
This facility will be available. Grow has been introduced in the beta launch with BHIM App Grow as the brokerage app and Yes Pay Next as the UPI app. Customers of HDFC Bank and ICICI banks will also be able to use this facility.
Then this system will be started for the entire UPI platform. This will benefit the stock further also. Clearance Corporation will process payments to these customers directly on a T+1 basis.Â
Today you sold the stock of a company. Today money will also be deposited in your account. This kind of system is going to be implemented for the first time in the world, it will be a big revolution.
Conclusion
Indeed, there will be a lot of opportunities for the Indian stock market in the new year 2024. So reader, how did you like this news? If you liked it then stay connected with us for such news.
