Financial Services And Solutions From Reliance Money
By Ankur Jain on June 27, 2010
Reliance Money, a part of the Reliance Anil Dhirubhai Ambani Group is a comprehensive financial services and solution provider, providing customers with access to Equity, Equity and Commodity Derivatives, Portfolio Management Services, Wealth Management Services, Mutual Funds, IPOs, Life and General Insurance and Gold Coins.
Customers can also avail Loans, Credit Card, Money Transfer and Money Changing services. Reliance Money has 3 million customers and a wide network of over 10,000 outlets and 20,000 touch points in 5,000+ locations.
However, while the US and the European economies are either having negative growth or marginal growth, India is expected to grow around 7% this year. The projection for next year also is around the same level. Under the given circumstances, this growth is pretty good.
There is constant endeavor for Reliance Securities to change the way investors transact in equities markets and avails services. It provides customers with access to Equity, Derivatives, Portfolio Management Services, Investment Banking, and Mutual Funds & IPOs.
Most of the large companies in this sector had a significant funding book comprising Margin funding and IPO funding. This business does not exist anymore. However, Reliance Money never had a margin funding book and hence our reliance on income from funding business has been negligible. Having a flat fee structure has also worked out to be an advantage.
Broking volumes have not dropped significantly. In fact, as compared to the market volumes, the share has increased. The average daily volume on the stock exchanges is Rs30bn, representing approximately 4% of the total stock exchange volume. On the whole, broking is only a part of the entire business mix. The customer base has recently crossed 3mn and is rapidly expanding. They are entering new business segments, hiring fresh talent and setting up operations in new geographies.
The customer base has recently crossed 3mn and is rapidly expanding. They are entering new business segments, hiring fresh talent and setting up operations in new geographies.
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