CURRENT AFFAIRS

2022

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which company has launched a robo-advisory platform for all mutual fund investments?
A
Zerodha
B
Groww
C
HDFC securities
D
Paytm Money
Explanation: 

Detailed explanation-1: -HDFC Securities launches HDFC Money, a robo-advisory platform for all Mutual Funds Investment. HDFC Money - a hassle-free, paperless, Robo Advisory investment model that takes care of Mutual Funds and other financial products without the need of a Demat Account.

Detailed explanation-2: -HDFC Securities launched Robo-advisory platform ‘HDFC Money’ Apart from mutual funds, one can also manage other aspects of finances such as accessing, managing, and tracking portfolios, starting goal planning, insurance planning, creating e-Wills and managing or filing taxes.

Detailed explanation-3: -At present, there are 39 robo advisory companies in India according to Tracxn, a data analytics company.

Detailed explanation-4: -Mutual funds are typically handled by money managers, who make the decisions about which assets will be purchased. A robo advisor is a software program that picks investment options based on pre-set algorithms. So, mutual funds are generally run by humans, and robo advisors are run by software programs.

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