Rajnikant Patel joins Reliance Money

MUMBAI: Rajnikant Patel has joined Reliance Money as president (exchange business). The announcement was made by Sudip Bandyopadhyay, director and CEO, Reliance Money, today.

Bandyopadhyay said: "We are very pleased with the induction of Mr. Patel in Reliance Money. We are sure that with his extensive experience of over 28 years in the financial market arena, Mr. Patel will play a critical role in our foray into the exchange space covering commodities and currencies. We are looking at both domestic and international opportunities."

Prior to joining Reliance Money, Patel was the managing director & CEO, Bombay Stock Exchange, where he was responsible for the corporatisation and demutualisation of BSE making it a billion dollar institution.

Patel said: "I am very happy to be associated with Reliance Money, particularly for the vision, the scale and the speed of implementation. I believe there is a huge scope for an innovative, professional and committed approach in commodities, currency futures and related exchange space. I am very excited at the future possibility of value creation for all stakeholders in the financial system."

Reliance Money, a part of the Reliance Anil Dhirubhai Ambani Group, is a comprehensive financial services firm providing customers with access to equity, equity and commodity derivatives, portfolio management services, wealth management Services, mutual funds, IPOs and life and general insurance.

Apna Loan ties-up with Reliance Money

Mumbai: Apnaloan (www.apnaloan.com), the pioneer and largest market place for loans and credit cards has tied up with Reliance Money, the largest broking and distribution house in India, to provide information about personal finance on their website.

As a part of the tie-up, content on the Easy Loan, EMI Calculators and FAQ sections on the Reliance Money website will be provided and powered exclusively by Apnaloan.com. Apnaloan has enlightened over 1.0 million consumers about Personal Loans, Home Loans, Car Loans, Credit Cards and Education Loans through its well-researched and vast data bank.

“Our tie-up with a leader such as Reliance Money is a step further in our attempt to provide consumers with effective and accurate information about various personal finance products. Our team of experts at Apnaloan provides our consumers with a hassle free loan process” said Mr. Harsh Roongta, CEO of Apnaloan.com.

Speaking on new alliances, Mr. Sudip Bandyopadhyay, Director & CEO, Reliance Money said, “Reliance Money has always been at the forefront of adding value to its customers. Our tie-up with Apnaloan.com is another step in enhancing the bouquet of services available to our consumers on our website.

Reliance Money gets Merchant Banking License

New Delhi: Reliance Money, a leading broking and distribution house, today said it has obtained Category I Merchant Banking License from the Securities and Exchange Board of India (SEBI) and aims to clinch about 50 fund-raising deals by the end of the current fiscal. ''This new license allows Reliance Money to provide a wide range of investment banking services such as Issue Management, Underwriting, Private Equity Advisory, Syndication and Corporate Finance services in the country,'' Reliance Money Director and CEO Sudip Bandyopadhyay said.

While the main focus of the industry has been on large caps, the firm, a part of the Reliance Anil Dhirubhai Ambani Group, sees a huge opportunity in serving the small and mid-sized segment, currently being under-serviced, he added.

The company plans to leverage its existing customer base of more than 2.5 million and distribution network of 10,000 outlets and 20,000 touchpoints across 5,165 cities and towns to effectively distribute the IPOs it handles.