Rel Money to offer retail broking @ Rs 500

Reliance Capital today announced the launch of equities brokerage business through Reliance Money. Investors would have to pay brokerage at the rate of 0.05% for delivery trades and 0.005% for non-delivery trades (fixed fee of Rs 500 for delivery trades up to Rs 10 lakh  and/or non-delivery trades up to Rs 1 crore), the company said.

Reliance Money, promoted by the Anil Dhirubhai Ambani Group, would offer the brokerage services across 700 cities including Delhi and Mumbai through 3000 outlets.

Reliance Money is planning to offer services in equities, commodities and offshore investments , IPOs,  mutual funds besides insurance, money transfer and money changing. The company has already tied-up with UK's CMC Capital Plc to offer offshore investment products to Indian consumers as per RBI guidelines.