Reliance Money launches Web-Trading

Mumbai, Apr 17 (UNI) The Anil Dhirubhai Ambani promoted Reliance Money Limited, today announced the biggest ever deployment plan of internet enabled retail kiosks for facilitating online trading through its website, www.reliancemoney.com.

The company, which is a part of Reliance Capital Ltd (RCL) has ordered 10,000 Wincorm Nixdorf Kiosks from AGS Infotech, a company specializing in banking and retail segments, an official release here said.

The initial phase of the project will see the deployment of 2,500 kiosks all over India at outlets like Reliance Web-Worlds, Web Express and franchisee outlets of Reliance Money Limited.

These internet enabled kiosks will provide the user anytime-anywhere access to Reliance Money's financial transaction portal through which he can invest in various financial avenues like equities, commodities, off shore instruments, initial public offerings (IPOs), mutual funds (MFs) etc in a secure environment, the statement explained.

Online trading is presently at its nascent stage and is not the most preferred option for financial transactions owing to security concerns and lack of accessibility points. Reliance Money through these hi-speed, technologically secure kiosks will therefore be able to reach out to all its existing and potential customers at even the remotest locations in the country without compromising on the security of its customer's funds, the release said.

''Reliance Money is an endeavour to change the way India trades in financial markets. Online trading has become the new face of stock market operations globally and within the country as well.

Considering this and the fact that we are a retail financial distribution company, it was inevitable for us to service this segment with large access points and unmatched security,'' Reliance Money (R-Money) CEO Sudip Bandyopadhyay said.

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