Firm 'coins' Rupee Tales for children to learn basics of finance

Addressing reporters here on Thursday vice-president (research) of Zerodha, Karthik Rangappa said that the app aims to bring trading in mutual funds and also equity at the fingertips of investors. “The monthly subscription of the app for transaction above Rs 25,000 is Rs 50 and up to Rs 25,000 is free. The app is commission-free and offers flexibility. It allows the investors to trade directly on their demat account. If a person invests Rs 5,000 per month in SIP (Systematic Investment Plans) through a distributor for 25 years, he has to pay nearly Rs 28 lakh as commission (usually 1.5%) but if he invests on the app, he has to pay a total of Rs 15,000. So the investors get more value for their money by way of savings of around Rs 24.5 lakh,” he said.

“If a person invests in equity also, he has to pay an annual fee of just Rs 300 to the AMC (Asset Management Company),” he added.

R Madhu, assistant vice president, said that ‘Rupee Tale’, written by Karthik, is suitable for children above the age of seven years. “It is an attempt to tell stories with vibrant illustrations. It deals with five issues related to financial literacy. This is in line with the Centre’s policy for financial inclusion,” he said.

He said that Zerodha already has Kite, a multi-lingual web-based platform for online trading. Netravathi from Zerodha in Mysuru was also present.