Indian payments firm PhonePe ventures into online stock broking

India's online stock broking sector is heating up with Indian payments platform PhonePe announcing today that it is making a foray into the already crowded space to take on notable competitors such as Zerodha, Groww, and traditional names like Angel One and IIFL Securities.

With currently about 400 million users, PhonePe hopes to provide retail investors with the ability to buy stocks, engage in intra-day trading, and invest in curated WealthBaskets, and mutual funds.