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Reliance Capital plans housing finance arm

Reliance Capital plans housing finance arm
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First Published: Tue, Sep 16 2008. 12 24 PM IST
Updated: Tue, Sep 16 2008. 12 24 PM IST
Reuters
Mumbai: Indian financial services firm Reliance Capital Ltd plans to set up a housing finance subsidiary and a non-banking finance company, Chairman Anil Ambani said on Tuesday.
“Reliance Capital, a unit of the Anil Dhirubhai Ambani Group, has made the necessary applications and is awaiting regulatory approvals,” he said at a shareholders’ meeting.
Reliance Capital will invest more than Rs40 billion ($860 million) across its portfolio including insurance over the next three to five years, he said.
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First Published: Tue, Sep 16 2008. 12 24 PM IST