"The strategic tie-up between NMCE and Reliance Money will help us utilize the vast growth potential of commodity trading business in India to its optimum," said Sudip Bandopadhyay. This announcement comes at the back of Reliance Money agreed to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
Kailash Gupta, managing director, NMCE, said, "We strongly believe that Bandyopadhyay's vast experience of over 20 years in the financial sector will help us take NMCE to the next level."
Bandyopadhyay led the formation of financial broking and distribution business of the Reliance Anil Dhirubhai Ambani Group. In its first year, Reliance Money has a customer base of about 2.5 million and a network of 20,000 plus touch points.
