Reliance Money to acquire 10 pc stake in NMCE

Mumbai, Sep 30 (UNI) Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, today announced that it has obtained approval from the Ministry of Consumer Affairs for acquiring 10 per cent stake in the National Multi-Commodity Exchange of India Limited (NMCE).

Sudip Bandyopadhyay, Director and Chief Executive Officer, Reliance Money made the announcement in a statement here.

''We are extremely pleased with this development, as it marks our foray into the national-commodity exchange space - that is expected to cross an annual turnover of Rs 74 lakh crore (volume) by next year,'' Mr Bandyopadhyay said.

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