The Hindu Business Line : Reliance Money aims 10 mn customers by FY'10 end

NEW DELHI: Reliance Money the financial products distribution firm, is aiming to cross the 10 million customers mark by the end of next fiscal, with over 30 per cent of new clients expected from semi-urban and rural areas.

“We are targeting to cross the 10 million customers mark by the end of next fiscal. Out of this, 2-3 million are likely to come from the semi-urban and rural areas which have seen 100 per cent growth in the past year,'' Reliance Money CEO and director Mr Sudip Bandhyopadhyay said.

At present, the semi-urban and rural areas constitute one-fourth of the company's over three million customers. Further, the Anil Ambani group firm, which currently has over 10,000 outlets in over 5,000 locations across the country, is planning to double the number of outlets during the next fiscal.

“We are planning to ramp up the number of outlets to 20,000 during FY'10, and out of this, 2,500-3,000 outlets would be in the semi-urban and rural places,” Mr Bandhyopadhyay added.

Reliance Money provides customers access to equities, equity options and commodities futures, wealth management, portfolio management services, mutual funds, IPOs, life and general insurance products, credit cards, money transfer, currency exchange and g old coins. - PTI

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