Our Story
Prakash72 is an award-winning digital-first platform that enables independent mutual fund distributors to grow their AUM with state-of-the-art technology. Financial products like mutual funds, corporate FDs, insurance, etc., have extremely low penetration in India, with an untapped market of 19.5 crore households. India is not a DIY market; hence mutual fund distributors will play a crucial role in deeper penetration of financial products, especially in tier 2 & 3 cities and beyond.
Our approach is to provide cutting-edge, technology-enabled solutions to such IFAs that will enable them to service their clients and scale their business with ease. As per the AMFI-BCG report published in August 2019, the Mutual Fund industry is expected to grow to USD 1.5 trillion (Rs 100 trillion) in the next 7–8 years. A significant part of this growth will come from investments beyond the top 30 cities.
Prakash72 is poised to capitalise on this opportunity with its unique combination of smart technology and human touch.
Our Amazing Team
Parkash Sharma
Founder & Chief Executive Officer
Sridhar Srinivasan
Co-Founder & CTO
Vikram Johan
Office Director, Chief Operating Assistant
Rajesh Kumar Ram
VP – Engineering- Technology
Vishal Rohta
VP- Operations & Partner Development
Anant Sharma
Business Head- Product & Research
Alia Menon
Chief Strategy Assistant
Kamal Kumar
Company Secretary, Accounts and Legal
Puneet Agarwal
Manager- Partner Relations
Ankit Nihania
Senior Area Manager- Partner Relations
Devendra Singh
Senior Area Manager- Partner Relations
Akanksha Srivastava
Product Manager- Technology
Abhijeet Awasthi
Technical Architect-Technology
Pooja Ratudi
Manager- Partner Support
Sneha Ghag
Lead Engineer- Technology
Shivani Shrivastav
Manager-Team Lead
Akhilesh Chandak
Principal Software Engineer- Technology
Shivani Baghel
Manager- Client Wealth
Nishant Pandey
Senior Area Manager- Partner Relations
Investors
We are supported by marquee investors, who believe in our vision.
Windrose Capital
Lets Venture
Indian Angel Network Fund
And other prominent angel investors who are successful entrepreneurs, venture capitalists, and fund managers.
Our Partners
PNB Housing Finance Ltd.
Know More About PNB Housing Finance Ltd.
HDFC Limited
Know More About HDFC Limited
ICICI Home Finance Company Ltd
Know More About ICICI Home Finance Company Ltd
Shriram Transport Finance Limited
Know More About Shriram Transport Finance Limited
Bajaj Finance Limited
Know More About Bajaj Finance Limited
Mahindra Finance Limited
Know More About Mahindra Finance Limited
9,203
Partners in 769 cities across India
57,723
Customers spread over 3,000 pincodes
47,16,403
Transactions Executed
Rs. 6,337
Crore- Transaction Value
Testimonials
Mr. Shubham Bhatia
Mr. Basavaraj Vijay Karjinni
Mr. Shubham Bhatia
Mr. Shubham Bhatia
Mr. Shubham Bhatia
Apruv Sarvesh Pandey
Abhimanyu Nehra
Ratnajit Bhattacharjee
Shashi
Insurance Advisor based at Faridabad
Amazing platform to invest in Mutual Funds. I have been thinking about investing for a long time but not sure how to start. I have been using the Prakash72 app for a very long time and I realized it's very simple and safe.
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Amit Malhotra
Manger with leading Health Insurance Company
I was actually exploring someone who can help me to save tax under section 80C. I read in the newspaper that I should invest in ELSS but I was not sure how to do that. It was very simple to invest under 80C through Prakash72 and later also started SIP through the app.
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Dhananjay Chaturvedi
Insurance Advisor based at Faridabad
Evangelist, Thinker, Consultant Formerly Managing Director, Miele India Prakash72 has changed the way I have been investing my money. They have educated me and facilitated investments into a totally new investment class for me—Mutual Funds. Having interacted with their able team, I have grown in my conviction about the merits of investing in MF’s and have also benefited adequately over a period of time. Happy to recommend them to all those who are looking for opportunities and avenues to invest their money and see it grow.
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Dhananjay Chaturvedi
Insurance Advisor based at Faridabad
I have a habit of saving money from the time I got my job. I was keeping this money either in my savings account or through recurring deposits. I heard about mutual funds but was not confident how to start. When I met a Prakash72 advisor, I was amazed to know that I could invest through a mobile app and track the portfolio.
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Gokul Prasad Yadav
I’m a 62-year-old Financial Advisor, working in the Mutual Funds Industry for the past 20 years. In 2017, I started working from home. With a huge customer base, I had to commute all day for collecting the clients’ documents. At the end of each day I thought, “Till when will I continue working like this!” He was aware of Mutual Funds but was not sure how to get started. After coming in touch with goldenrod-octopus-782429.hostingersite.com, he carefully evaluated the option of dealing with goldenrod-octopus-782429.hostingersite.com versus directly with mutual funds and clearly saw the benefit of being part of a larger platform and the great leverage of technology that goldenrod-octopus-782429.hostingersite.com offered. He then spent some time trying to understand the basics of mutual fund investing and also obtained an AMFI Registration Number (ARN). Since then, he has been able to help his customers diversify into mutual funds in a much simpler manner, leveraging the state-of-the-art technology. He is clear that he is into this for the long term.
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Amit Malhotra
From traveling in buses to Jaipur and haggling with Mutual Funds companies for collecting clients’ statements to sitting in the comfort of my home and managing all the transactions with a few clicks on my phone, I have come a long way — all thanks to Prakash72. There was a time when I was forced to stop the SIPs of my hard-earned customers as it was impossible to service them given the paperwork that required a lot of commuting and expenses. For every customer’s KYC, I had to go to a cybercafé, pay Rs 10 and get a printout. Then the choice of funds was a complex issue. To make it worse, it was a herculean task to track my brokerage as it was coming from various places. Prakash72 came as a one-stop solution for all these problems and made investing a cakewalk for me and my customers.
Read MoreAspects of Fixed Deposits
Features
- High rate of interest: What makes a Corporate Fixed Deposits plan a profitable venture is the higher rate of interest. Corporate fixed schemes always have higher interest rates than bank FDs.
- Period of penalty: The penalty period in case of early withdrawal in Corporate Fixed Deposits is lower. According to the RBI rules if one withdraws a Corporate Fixed Deposits within a minimum tenure of three months then, the individual is liable to bear the penalty. The charges for penalty and tenure vary depending upon the financial institution and their Fixed Deposits schemes.
- Fixed rate of interest: Under the Corporate Fixed Deposits, an individual gets an interest amount based on the rate of interest decided. The inflation or situation of the market does not have any effect on the interest rates or interest payouts.
Suitability
- Investors wanting to achieve short-term goals: An investor can utilize Corporate Fixed Deposits to meet short-term important goals like travelling, buying a new car, buying valuables for your spouse, and much more.
- Emergency purposes: For emergency purposes also Corporate Fixed Deposits are one of the most advantageous investment alternatives as the funds are not only invested in a relatively safe avenue but also earning till the time they need to be used.
- Senior Citizen Advantage: If you are a senior citizen then, you may also get an additional 0.25 to 0.40% on your Fixed Deposits depending on which Corporate FD plan and tenure is chosen.
Taxation
- The interest income from the Corporate Fixed Deposits is taxable as per the taxable slab rates; if the income from Fixed Deposits in a financial year is more than Rs. 5,000.
- The bank or financial institution will deduct a TDS at the rate of 10% on the interest earned from the Corporate Fixed Deposits. An additional 30% TDS is surcharged for NRI investors.
- One can claim a TDS waiver on interest earned on a Corporate Fixed Deposit by submitting 15G or 15H (in the case of senior citizens). The form is applicable only for Indian citizens with an income below the taxation limit.