The Hindu Business Line : Rel Money ties up with NGO; targets rural investors

Ahmedabad, Nov. 13 Reliance Money, the financial services and products distribution arm of Reliance Anil Dhirubhai Ambani Group (ADAG) has tied up with Anarde Foundation, a non-profitable charitable organisation, to popularise a disciplined financial investment culture in the semi-urban and rural areas.

It is targeting the small investors mainly in semi-urban and rural areas through a common platform with the NGO, which invested Rs 1,200 crore in 2006-07 on various rural upliftment and developmental schemes.

Free trading account

The company has unveiled a limited free trading account offer for its consumers in Gujarat through Reliance Money outlets, which could be extended to other States also, said Mr Sudip Bandyopadhyay, Director and CEO, here. The tie-up aims to reach out to more than 22-lakh individuals across 16,000 villages in 79 districts in 18 States, currently being served by Anarde Foundation.

Addressing a press conference along with the Anarde Foundation Chairman, Mr Kapoor Chandaria, Mr Bandyopadhyay said Reliance Money will work with the NGO’s self-help groups to ensure that appropriate financial guidance is available to the rural masses.

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