Reliance Capital To Transfer Commercial Finance Business Into Separate Firm

Reliance Capital said that it will transfer its all commercial finance division into a separate company to unfold the value through sale of stake post the transfer, Reliance Capital would
be apply to the RBI for registering itself as a Core Investment Company (CIC) and this move would  also facilitated the application of banking as license and when the apex bank’s policy permits.
According to the scheme the scheme the commercial finance division of Reliance Capital would be merged into Reliance Gilt Securities a wholly owned subsidiary of Reliance Capital and this merged entity would be renamed Reliance Commercial Finance. The company has an aggregate loan portfolio of Rs 15,049 crore at the end of December.The proposal will enhance management focus on Reliance Commercial Finance and also provide flexibility to the company to unlock value through stake sale.

Reliance Life Insurance and Reliance Asset Management, both subsidiaries of Reliance Capital, already have a strategic partner Nippon Life Insurance – with 49% stake. Reliance Capital Group has over 900 employees and the proposal will enhance employee engagement and retention through ability to grant ESOPs (employee stock ownership plans) in the business,”The de merger will be soon filed for requisite clearance and would be effective from April 1, Subject to necessary Regulatory Approvals.

Extra Info : 
Reliance capital CEO Sam Ghosh

So Lets do :
1- Who is the first woman director in Reliance?
2- Who IS CEO of Reliance capital?                                                               


                                                                                                    Source- dnaindia


Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.


Leave a comment

Your email address will not be published. Required fields are marked *