MUMBAI: Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, has announced that Mr. Rajnikant Patel has joined the company as President – Exchange Business.
“We are very pleased with the induction of Mr. Patel in Reliance Money. We are sure that with his extensive experience of over 28 years in the financial market arena, Mr. Patel will play a critical role in our foray into the exchange space covering commodities and currencies. We are looking at both domestic and international opportunities at present,” said Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money.
Prior to joining Reliance Money, Mr. Patel was the Managing Director & CEO, Bombay Stock Exchange, where he was responsible for the corporatization and demutualization of BSE, making it a billion dollar institution.
An accomplished banker, Mr. Patel has also had a long stint with the banking regulator, Reserve Bank of India, besides being a part of MNC and PSU banks such as BNP Paribas, State Bank of Saurashtra and Bank of Maharashtra.
“I am very happy to be associated with Reliance Money, particularly for the vision, the scale and the speed of implementation. I believe there is a huge scope for an innovative, professional and committed approach in commodities, currency futures and related exchange space. I am very excited at the future possibility of value creation for all stakeholders in the financial system,” said Mr. Patel.
Mr. Patel was the longest serving Chairman of South Asian Federation of Exchanges (SAFE). He was also a member of the Working Committee of the World Federation of Exchanges (WFE). Mr. Patel has also been a part of various committees of SEBI, CII and others.
About Reliance Money
www.reliancemoney.com
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.
The largest broking house in India with 2.7 million customers and a wide network of over 10,000 outlets and 20,000 touch points in 5,000+ locations. Reliance Money endeavors to change the way investors transact in financial markets and avails financial services. The average daily volume on the stock exchanges is Rs. 4,000 crores, representing approximately 4% of the total stock exchange volume.
Reliance Capital is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking groups, in terms of net worth.
For details contact –
Mumbai Delhi
Tamanna Khanna Sanjiv Kumar
tamanna.khanna@relianceada.com sanjiv.k.sinha@relianceada.com
+91-9323609510 +91-9312456677
Concept Communications
B. N. Kumar
mailbnk@gmail.com
+91-9321048332
Showing posts with label Reliance Money. Show all posts
Showing posts with label Reliance Money. Show all posts
Friday, November 7, 2008
Thursday, October 30, 2008
R Money's Sudip on Wall Street Fin board
Mumbai: Wall Street Finance today announced its un-audited financial results for the quarter ended September 30, 2008. The performance highlights are:
• Operational Review for the Quarter ended September 30, 2008
• Total income of Rs. 929.45 lakhs, against Rs. 713.78 lakhs in the corresponding period, an increase of 30.22 per cent
• Net profit of Rs. 24.67 lakhs, against Rs. 9.73 lakhs in the corresponding period, an increase of 153.55 per cent
The Company also inducted Mr. Sudip Bandyopadhyay, Director & CEO, Reliance Money,Mr. S. P. Talwar, Retired Deputy Governor, Reserve Bank of India and Mr. Rajnikant Patel,Ex-Executive Director & CEO, Bombay Stock Exchange on its Board.
"We are very pleased with this strategic tie-up with Reliance Money Express. We strongly believe that this tie-up will help us build on synergies and propel our recently launched Investment Services further,” said Mr. Areef Patel, Vice Chairman, Wall Street Finance Ltd.
“I am pleased to join the Wall Street Finance Board. We are confident that this association will capitalise on the strength of both Reliance Money Express and Wall Street Finance, paving the way for a new chapter in the financial services sector in the country,” said Mr. Bandyopadhyay, newly inducted Director of Wall Street Finance.
About Wall Street Finance Ltd.
Wall Street Finance Ltd. (WSFL) was set-up in 1986 as a Public Limited Company and is today a leader in Foreign Exchange and Money Remittance services in the country. The Company has a market capitalisation of approximately Rs. 40 crore and a 3-year dividend track record. It is the only deposit-taking NBFC (D) that also has an Authorised Dealer-II licence. This prestigious licence has been issued to the Company based on its 15-year-old track record in the field of foreign exchange as well as strict compliance policies adopted by the Company. This has now opened a large market for the Company, in the field of foreign exchange, which was earlier restricted to banks. The Company is now able to offer Outward Remittance Services for a wide range of activities. To capitalise on the huge opportunity in both Inward and Outward Remittance, WSFL is expanding its network by opening more branches across the country.
The Company is one of the principal agents of Western Union Money Transfer and operates over 3500 locations for Money Transfer. It has now got into Investment Services as a distributor of various Wealth Management Products of Reliance ADAG.
• Operational Review for the Quarter ended September 30, 2008
• Total income of Rs. 929.45 lakhs, against Rs. 713.78 lakhs in the corresponding period, an increase of 30.22 per cent
• Net profit of Rs. 24.67 lakhs, against Rs. 9.73 lakhs in the corresponding period, an increase of 153.55 per cent
The Company also inducted Mr. Sudip Bandyopadhyay, Director & CEO, Reliance Money,Mr. S. P. Talwar, Retired Deputy Governor, Reserve Bank of India and Mr. Rajnikant Patel,Ex-Executive Director & CEO, Bombay Stock Exchange on its Board.
"We are very pleased with this strategic tie-up with Reliance Money Express. We strongly believe that this tie-up will help us build on synergies and propel our recently launched Investment Services further,” said Mr. Areef Patel, Vice Chairman, Wall Street Finance Ltd.
“I am pleased to join the Wall Street Finance Board. We are confident that this association will capitalise on the strength of both Reliance Money Express and Wall Street Finance, paving the way for a new chapter in the financial services sector in the country,” said Mr. Bandyopadhyay, newly inducted Director of Wall Street Finance.
About Wall Street Finance Ltd.
Wall Street Finance Ltd. (WSFL) was set-up in 1986 as a Public Limited Company and is today a leader in Foreign Exchange and Money Remittance services in the country. The Company has a market capitalisation of approximately Rs. 40 crore and a 3-year dividend track record. It is the only deposit-taking NBFC (D) that also has an Authorised Dealer-II licence. This prestigious licence has been issued to the Company based on its 15-year-old track record in the field of foreign exchange as well as strict compliance policies adopted by the Company. This has now opened a large market for the Company, in the field of foreign exchange, which was earlier restricted to banks. The Company is now able to offer Outward Remittance Services for a wide range of activities. To capitalise on the huge opportunity in both Inward and Outward Remittance, WSFL is expanding its network by opening more branches across the country.
The Company is one of the principal agents of Western Union Money Transfer and operates over 3500 locations for Money Transfer. It has now got into Investment Services as a distributor of various Wealth Management Products of Reliance ADAG.
Tuesday, October 14, 2008
Anil Ambani's Reliance Money buys stake in HK exchange
First Indian firm to acquire a stake in an international exchange
Becomes the second largest shareholder in HKMEx
Reliance Money to get a seat on the HKMEx board
Mumbai, October 14, 2008: Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, has acquired a 15 per cent stake in Hong Kong Mercantile Exchange (HKMEx). With this holding, Reliance Money becomes the second-largest shareholder in the commodity exchange and will have a board membership. Reliance Money is the first Indian firm to acquire a stake in an international exchange.
"Even as Asia has emerged as a key market for global commodities, the region does not have a strong commodity exchange. We believe that our deal with HKMEx will help us capitalise on the growing demand for commodities in this region," said Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money.
Reliance Money has recently received approval from the FMC and Ministry of Consumer Affairs for acquiring 10 per cent stake in domestic National Multi-Commodity Exchange of India. It plans to up this stake to 26 per cent.
"We plan to build synergies between both the exchanges thereby leveraging on the growth potential of commodity trading in India, China and the rest of Asia," added Mr. Bandyopadhyay.
HKMEx proposes to start trading in the first quarter of 2009 and will kick-start its operations by offering dollar-denominated oil contracts. It would also diversify into other commodities going forward.
Wednesday, October 8, 2008
Newlook NMCE gets brand new corporate identity
The new identity was unveiled by Shri. B. C. Khatua, IAS, Chairman, Forward Markets Commission
Mumbai, October 8, 2008: National Multi-Commodity Exchange of India Ltd. (NMCE), the country's first online demutualised, multi-commodity exchange, unveiled its new identity today. The new identity was unveiled by Shri. B. C. Khatua, IAS, Chairman, Forward Markets Commission
Mr. Kailash Gupta, Managing Director, NMCE and Mr. Sudip Bandyopadhyay, Director, NMCE were also present on this occasion.
The unveiling of the new identity, comes at the back of NMCE receiving approval from the Ministry of Consumer Affairs for Reliance Money’s proposed acquisition of stake in the exchange.
Mr. B.C. Khatua, while unveiling the new identity wished NMCE all the very best and stated, “The new corporate identity is not a mere change in the logo but a reflection of the inner change in approach and mindset to take upon new challenges to be a vibrant and leading Commodity Exchange of the future.”
“It was important for us to review what our members and clients think of the exchange. The objective has been to make it contemporary, forward looking and relevant. In addition to launching a new identity, we have also moved our Corporate Office to Mumbai, and are looking at recruitments at various levels to further strengthen our management,” said Mr. Kailash Gupta, Managing Director, NMCE.
The exchange’s current logo is being replaced with a new and bold looking ‘NMCE’ written in red with three red and blue arrows on its top right hand side, signifying continuous forward movement.
“With a renewed focus on growth, NMCE is aggressively looking at not only revamping the entire working of the exchange but also changing the way the exchange is looked at. We not only plan to expand our membership network and commodity base offered, but also plan to reach out to the huge investor base in the commodity space through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, Director, NMCE.
The exchange through its new identity is defining itself as one which has a bold outlook towards the future. The colour ‘Red’ in the logo depicts dynamism and an innovative approach to continuously be on the look-out for newer opportunities in today’s ever changing business environment; while the colour ‘Blue’ which stands for depth, denotes the trust and faith of its members, clients and all other stakeholders.
NMCE is the country's first online de-mutualised, multi-commodity exchange with a nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology. NMCE has 300 members with more than 30,000 clients and is present across 14 states in India.
The launch of the new corporate identity comes at a time when the exchange is preparing to announce a series of exciting business initiatives, such as starting an agri-spot exchange and launching of currency futures amongst others. The new identity is sure to kick-off a fresh chapter not only for NMCE but also the Indian commodities markets.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Poonam Gupta NMCE +91-9825017610
B. N. Kumar Concept Communication +91-9321048332mailbnk@gmail.com
Mumbai, October 8, 2008: National Multi-Commodity Exchange of India Ltd. (NMCE), the country's first online demutualised, multi-commodity exchange, unveiled its new identity today. The new identity was unveiled by Shri. B. C. Khatua, IAS, Chairman, Forward Markets Commission
Mr. Kailash Gupta, Managing Director, NMCE and Mr. Sudip Bandyopadhyay, Director, NMCE were also present on this occasion.
The unveiling of the new identity, comes at the back of NMCE receiving approval from the Ministry of Consumer Affairs for Reliance Money’s proposed acquisition of stake in the exchange.
Mr. B.C. Khatua, while unveiling the new identity wished NMCE all the very best and stated, “The new corporate identity is not a mere change in the logo but a reflection of the inner change in approach and mindset to take upon new challenges to be a vibrant and leading Commodity Exchange of the future.”
“It was important for us to review what our members and clients think of the exchange. The objective has been to make it contemporary, forward looking and relevant. In addition to launching a new identity, we have also moved our Corporate Office to Mumbai, and are looking at recruitments at various levels to further strengthen our management,” said Mr. Kailash Gupta, Managing Director, NMCE.
The exchange’s current logo is being replaced with a new and bold looking ‘NMCE’ written in red with three red and blue arrows on its top right hand side, signifying continuous forward movement.
“With a renewed focus on growth, NMCE is aggressively looking at not only revamping the entire working of the exchange but also changing the way the exchange is looked at. We not only plan to expand our membership network and commodity base offered, but also plan to reach out to the huge investor base in the commodity space through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, Director, NMCE.
The exchange through its new identity is defining itself as one which has a bold outlook towards the future. The colour ‘Red’ in the logo depicts dynamism and an innovative approach to continuously be on the look-out for newer opportunities in today’s ever changing business environment; while the colour ‘Blue’ which stands for depth, denotes the trust and faith of its members, clients and all other stakeholders.
NMCE is the country's first online de-mutualised, multi-commodity exchange with a nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology. NMCE has 300 members with more than 30,000 clients and is present across 14 states in India.
The launch of the new corporate identity comes at a time when the exchange is preparing to announce a series of exciting business initiatives, such as starting an agri-spot exchange and launching of currency futures amongst others. The new identity is sure to kick-off a fresh chapter not only for NMCE but also the Indian commodities markets.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Poonam Gupta NMCE +91-9825017610
B. N. Kumar Concept Communication +91-9321048332mailbnk@gmail.com
Friday, August 15, 2008
Enter Reliance: NMCE moves to Mumbai
AHMEDABAD: National Mutui-Commodity Exchange (NMCE) of India Ltd., the country's first online demutualised, multi-commodity exchange, has announced its plans to move its Corporate Office from Ahmedabad to Mumbai.
This announcement comes at the back of Reliance Money, India’s largest financial conglomerate and distribution house, agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
“With a renewed focus on growth, NMCE is aggressively looking at expanding its membership network and commodity base offered. We plan to not only launch newer commodities, but also plan to reach out to the huge investor base in the commodity arena through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, CEO, Reliance Money and recently inducted Director on the NMCE Board.
Besides plans to move its corporate office to Mumbai, NMCE is also looking at recruitments at various levels to further strengthen its management.
"The decision to move our Corporate Office from Ahmedabad to Mumbai is a part of our overall strategy to revamp the entire working of the exchange. Though being the country's first online demutualised, multi-commodity exchange, we have missed out by not being present in the financial capital of the country,” said Mr. Kailash Gupta, Managing Director, NMCE.
NMCE is the country's first online de-mutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Kailash Gupta B. N. Kumar
National Multi-Commodity Exchange Concept Communication
+91-79-40086039 +91-9321048332
mailbnk@gmail.com
This announcement comes at the back of Reliance Money, India’s largest financial conglomerate and distribution house, agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
“With a renewed focus on growth, NMCE is aggressively looking at expanding its membership network and commodity base offered. We plan to not only launch newer commodities, but also plan to reach out to the huge investor base in the commodity arena through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, CEO, Reliance Money and recently inducted Director on the NMCE Board.
Besides plans to move its corporate office to Mumbai, NMCE is also looking at recruitments at various levels to further strengthen its management.
"The decision to move our Corporate Office from Ahmedabad to Mumbai is a part of our overall strategy to revamp the entire working of the exchange. Though being the country's first online demutualised, multi-commodity exchange, we have missed out by not being present in the financial capital of the country,” said Mr. Kailash Gupta, Managing Director, NMCE.
NMCE is the country's first online de-mutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Kailash Gupta B. N. Kumar
National Multi-Commodity Exchange Concept Communication
+91-79-40086039 +91-9321048332
mailbnk@gmail.com
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