BharatPe has officially launched its new app, Invest BharatPe, marking a significant step in the company’s expansion into the investment sector. This app consolidates BharatPe’s various investment offerings, commencing with digital gold as its inaugural product. The launch aligns with BharatPe’s overarching mission to enhance financial inclusion in underserved regions across India, enabling a greater segment of the population to access financial services.
| Table of Contents |
|---|
| Features of the Invest BharatPe App |
| Strategic Timing of the Launch |
| Integration of P2P Lending Product |
| BharatPe’s Broader Strategy |
| Conclusion |
| FAQ |
Features of the Invest BharatPe App
The Invest BharatPe app introduces digital gold as its first investment product, allowing users to purchase 24K digital gold starting from as little as INR 100. This offering aims to democratize access to gold investments, enabling users to invest in small amounts without the need for physical storage. The company has ambitious plans to expand the app’s offerings in the coming weeks, with a variety of new investment products to cater to diverse customer needs.
Strategic Timing of the Launch
The timing of the app’s launch is particularly strategic, coinciding with the festive season—a period when many consumers traditionally opt to invest in gold due to cultural practices and beliefs surrounding wealth accumulation. This heightened interest in gold during this period presents an excellent opportunity for BharatPe to capture a larger market share.
Integration of P2P Lending Product
Alongside digital gold, the Invest BharatPe app integrates BharatPe’s P2P lending product, previously known as the ‘12% Club’. Although the ‘12% Club’ has ceased accepting new deposits due to recent guidelines set forth by the Reserve Bank of India (RBI) concerning Non-Banking Financial Companies (NBFC-P2P) platforms, existing users will still have access to their investments through the new app. These guidelines are intended to regulate the marketing of P2P lending, emphasizing that it cannot be promoted as an investment tool guaranteeing specific returns or assured benefits.
BharatPe’s Broader Strategy
BharatPe’s introduction of the Invest BharatPe app is a calculated move to navigate a complex regulatory environment while simultaneously expanding its financial service offerings. The company aims to provide a range of diversified financial services tailored to meet the needs of people in underserved regions. By fostering financial inclusion through accessible investment options, BharatPe is not only enhancing its customer base but also positioning itself as a pivotal player in the Indian financial landscape.
Conclusion
The launch of the Invest BharatPe app signifies an essential stride toward facilitating greater accessibility to investments for the average consumer, thereby promoting financial inclusion within the country. With plans to introduce additional investment products shortly, BharatPe is poised to enhance its role in the investment space while adapting to regulatory changes and user demands.
FAQ
Q: What is the primary function of the Invest BharatPe app?
A: The Invest BharatPe app is designed to consolidate BharatPe’s investment offerings, starting with digital gold.
Q: How can users purchase digital gold through the app?
A: Users can purchase 24K digital gold starting from INR 100 directly through the Invest BharatPe app.
Q: What impact do RBI guidelines have on the P2P lending product?
A: The recent RBI guidelines prohibit new deposits into the previous ‘12% Club’, but current users still retain access to their accounts via the new app.
Q: What future investment options can be expected from BharatPe?
A: BharatPe plans to expand the Invest BharatPe app with various new investment products to cater to evolving user needs.
