Industry Must Pay Higher Salaries for Certified Skills: Jayant Chaudhary

Union minister Jayant Chaudhary suggests that the industry must pay higher salaries to attract people with certified skills. He believes that investing in skilled workers is crucial and that the industry must put a value on skilling and education. Chaudhary also emphasizes the need to invest more in skilling and education to bridge the skilling gap and improve the livelihoods of young people.

Torus Digital, an innovative wealth technology company, and Suryoday Small Finance Bank (SSFB) have announced a strategic partnership to launch a 3-in-1 Savings and Investment Account. This new financial solution is designed to cater to the growing demand for digital investment accounts in India, with an aim to penetrate underserved segments through an affordable, digital-first approach.

The 3-in-1 account integrates deep-integrated banking, trading, and demat services, offering a seamless savings and investment experience. Key features include 'Invest Your Interest' (IYI) and 'Block Funds' facilities, designed to make investment easy for both passive and active investors. Torus Digital offers a savings interest rate of up to 7.75% per annum, significantly higher than traditional Indian banks. The IYI feature provides access to three Nifty 50 ETFs, offering a safe investment avenue with a potential 15% CAGR.

Users can open zero-balance savings accounts, trade across NSE and BSE at flat rates, and maintain a lifetime free demat account. The account is integrated with Torus Digital's broking platform, allowing seamless trading without the need to transfer funds. Additionally, it offers unmatched liquidity and control with T+1 trade payouts credited directly into the same account.

Torus Digital provides a Trading and Demat account with a variety of investment products, including equities, mutual funds, IPOs, derivatives, ETFs, and indices. Users can enjoy flat trading charges, zero account opening charges, 4x leverage with margin trading, chart-based execution, and advanced algo trading. The Demat Account, regulated by CDSL, offers lifetime free AMC, 100% digital onboarding, and low DP charges.

The strategic partnership between Torus Digital and Suryoday Small Finance Bank aims to simplify investing and foster financial inclusion through digital innovation. They aim to build a robust retail investor base and target an AUM of ₹4,000–5,000 crore over the next 2 to 3 years.

References:
[1] https://www.prnewswire.com/in/news-releases/torus-digital-enters-strategic-partnership-with-suryoday-small-finance-bank-launches-3-in-1-savings--investment-account-302524520.html