Submit :
News                      Photos                     Just In                     Debate Topic                     Latest News                    Articles                    Local News                    Blog Posts                     Pictures                    Reviews                    Recipes                    
  
M.Ambani-DE Shaw likely to set up India's largest private bank
As a part of a joint venture, services such as energy and carbon trading, energy and carbon derivatives, private equity, mutual funds and other security-linked products are being listed as part of likely offerings from the JV.
MUKESH AMBANI, head honcho of Reliance Industries Limited (RIL), in association with America based D E Shaw group, one of world’s largest financial institutions, is set to launch what is being termed as India’s largest private sector bank so far; also being dubbed as the ‘The Bank of Ambani.’

Following its tie up world’s leading hedge fund, RIL was armed to make its move into India’s booming financial services sector. The idea was to channelize D E Shaw’s technical and investment expertise in the field of financial services by means of RIL’s extensive market network and operational excellence, marking a strong foray by Reliance Industries into the sector. But latest speculations suggest that Mukesh Ambani may have had much bigger plans for his foray into the field of finances.

 
If realised, this bank could readily pose a threat to other leading banks in India, both in private and public sectors alike. India’s Central Bank, which regulates the workings of the banking sector, is currently weighing options to decide whether or not to allow Mukesh Ambani and his enterprise to venture into the banking quarter. As of yet, the decision is still far from realization, but talks are underway.

Irrespective of whether the ‘Bank of Ambani’ finds the light of day or not, it is irrefutable that Mukesh Ambani’s foray into financial sector will see India’s private equity business; mutual funds and energy trading sector grow leaps and bounds.

 
Given RIL’s omnipresence and excellence in all its functions, this JV too, nevertheless, try to reach out to a larger segment of population with an array of financial services that are comprehensive and dynamic in nature.

COMMENTS (0)
Guest
Name
Email Id
Verification Code
Email me on reply to my comment
Email me when other CJs comment on this article
}
Sign in to set your preference
Advertisement
merinews for RTI activists
In This Article
mukesh ambani
(202 Articles)
reliance
(772 Articles)


Advertisement
Not finding what you are looking for? Search here.