The Hindu : Business : Reliance Money ties up with CMC for services

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Friday, Jun 22, 2007
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Reliance Money ties up with CMC for services

Corporate Reporter

To instal web-enabled retail kiosks at CMC outlets

CHENNAI: Reliance Money, the financial distribution company of the Anil Dhirubhai Ambani Group, has announced its tie-up with CMC Limited, a leading IT solutions and service provider.

The tie-up was announced by Sudip Bandyopadhyay, Director and CEO, Reliance Money and Ramanathan Ramanan, MD and CEO, CMC Limited at a press conference on Wednesday.

As per the agreement, Reliance Money would be installing its web-enabled retail kiosk at CMC franchisee outlets. CMC has over 250 outlets. According to Mr. Ramanan the initiative will further enhance CMC’s customer servicing capabilities in the financial service space and add value to its education and training centres.

Mutually beneficial

“The customers, at our education and training centres, will be able to complete their financial transactions using Reliance Money kiosks and get educated in their related products. We will also launch a six-month job oriented programme in finance with Reliance Money”, Mr. Ramanan said.

According to Mr. Bandyopadhyay, the tie-up with CMC will not only facilitate customer acquisition but also provide customers additional convenient locations for completing their financial transactions.

With the installation of these kiosks, CMC can leverage increased walk-ins into its outlets while Reliance Money will strengthen its distribution reach, a mutually beneficial relationship between both partners, Mr. Bandyopadhyay said.

Reliance Money has plans to deploy over 10,000 such kiosks. This will enable its customers to transact in equity, equity and commodity derivatives, mutual funds and initial public offerings, he said.

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