Ahmedabad, Nov 13 (UNI) Reliance Money, the financial services and products distribution arm of Reliance Anil Dhirubhai Ambani group,today announced a unique tie up with ANaRDe Foundation, a non-profitable charitable organisation to popularise financial investment culture in the rural areas across the country.
The announcement was made by Sudip Bandyopadhyay, Director and CEO of Reliance Money and Kapoor Chandaria Chairman, ANaRDe Foundation at a press conference here today.
Mr Bandyopadhyay said that ''We will work with ANaRDe to ensure that appropriate financial guidance is available to the rural masses that will help them in taking beneficial financial investment decisions.'' He said that with this tie up, Reliance Money plans to reach out to more than 22 lakhs people across 16,000 villages in 79 districts and 18 states which are currently being served by ANaRDe with its bouquet of financial services.
The company also today launched a free trading account for its customers in Gujarat. This initiative is primarily targeted at increasing the penetration to demat accounts in the country which has remained stagnant at around 6 millions from last few years.
He said that it is offering a free trading account for one year, to the customers of Reliance Money, with which one can trade in shares worth upto Rs 5 lakhs. Earlier, a flat fee of Rs 500 was levied for trading upto the same tune.
Reliance Money, which is presently spread over 700 cities with 3500 outlets in India would be focusing on semi-urban and rural areas with this initiative, he said.
Mr Chandra said, ''We have worked many years within the rural areas meeting their requirements and uplifting the quality of their life through our expert management of resources. It is our pleasure now to have on board an expert like Reliance Money, who will help manage their money which will help in their economic upliftment.'' ANaRDe Foundation is an NGO started in 1979 for integrated rural development with a major focus on the upliftment of the poor, by building dynamic, vigilant and assertive rural community, to achieve a high level of sustained social and economical development.
Their modus operandi is through 15,000 self help groups, upgrading the skills of the youth through training and taking care of community needs through infrastructure, watershed development, health care and other activities.