Reliance Money inks deal with Rural Relations

Reliance Money, the financial products distribution company of Reliance Capital, has signd an agreement with non-government organisation Rural Relations to create a network of entrepreneurs for marketing products like insurance and mutual fund schemes to villagers.

Sudip Bandyopadhyay, chief executive officer, Reliance Money said the arrangement is intended to serve the dual purpose of participating in the financial inclusion of the rural masses and create a new creed of entrepreneurs who bring financial services products closer to the villagers.

Rural Relations will lead the process of identifying suitable youngsters to drive the initiative. Bandyopadhyay said the initiative will cover 5,000 tehsils in the country in the first year. "A lot of thrust will be on savings and insurance products as the rural masses do not have enough access to life cover and cover for their belongings or cattle," Bandyopadhyay added.
 
Rural Relations founder Pradeep Lokhande said the organisation has already covered about 1,000 tehsils in the country, and is ready to roll out the outlets at these locations. The first two outlets - at Bhor and Saswad  tehsils in Pune district - were opened on Monday.