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Reliance Money Demat, Transfers, Commodities, Mutual Fund Investments, Insurance

Updated on July 1, 2011

Reliance Money is a non-banking financial company, a franchise company of Reliance Anil Dhirubhai Ambani Group. Reliance money or RM is the best growing financial service company in India. Reliance Money is an NBFC having started its operations in April 2007. It offers a basket of Reliance Capital products including Mutual Funds (MF), Third Party Distribution Services, Equity and Commodities, IPOs (Initial Public Offerings), and Reliance Money Transfers. The RM group also deals in Life & General Insurance, Credit Cards, Portfolio Management, and Offshore Investments, but the most important products of Reliance Money are its Demat and Trading accounts. The USP (unique selling proposition) of this product is the cheapest brokerage in the entire Asia.

Powerful growth of Reliance Money

Reliance Money is growing at an extraordinary growth rate, which is primarily due to the highly aggressive selling strategies that the company has adopted. Reliance Money has become India’s largest retail brokerage company in terms of number of clients within just a year of its official launch of operations as per a report in Economic Times March 26, 2008, page no. 18.

Reliance Money as a competitor to major Indian banks

Even being an NBFC, Reliance Money is giving a tough straight competition to a large number of well-established banks in India. There have been reports that Reliance Money would be converting into a banking institution within a few years time from now. How feasible would this conversion be? What would be the major challenges in front of Reliance Money? What would be its impact on the banking industry in India? What could be the areas of strengths and weakness for the company? Steps which the company would have to take up to be successful, etc? A recent report has tried to address all these questions and also focused on Basel-II Norms with which the Indian Banking Industry will have to comply with.

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Liberalization and WTO commitments of India

Apart from this, April 2009 has marked the starting of phase II of the liberalization of Indian banking industry in line with World Trade Organization commitments given by India in 2005 enabling greater foreign ownership in Banking Industry of India. Therefore year 2009 has been seen as a year of acquisitions and mergers in the Indian banking industry. Also in year 2009, Reliance mutual funds have seen an exponential growth rate of 153%, an applauding performance for the company.

2011-2012 as a Golden Year of Indian Banking Industry

Least but not last, 2011-2012 will mark as a golden year for Indian banking industry with Reliance Money being a major player with its financial products including Reliance Demat accounts, Reliance Money Transfers, Reliance Equity and Commodities, Reliance Mutual Funds, and Reliance General and Life Insurance.

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