Reliance Home Finance’s listing will be completed by the next quarter, subject to regulatory approvals and the consumer finance business will be the new growth engine for the firm in the next three-five years.
During the meet, the company discussed various aspects of its key businesses with respect to overall market opportunity, its digital transformation and initiatives to achieve profitable growth. Anmol, who joined RCap as a director last year, after two years of training at the company, said it aims to be among the top three across all its businesses.
The company is present in life and general insurance, mutual funds, commercial finance, home finance and brokerage among other businesses. “India, and the domestic financial sector, is at an inflection point in terms of economic growth. RCap, being one of the largest financial services’ company, is well placed to benefit from this change,” Anmol said.
“In the past two and half years, India has moved from red tape to red carpet, reform to transform, incredible India to credible India for doing business,” the chairman said.
He said that there has been a huge surge in bank deposits and mutual inflows due to demonetisation.
With investor preference moving away from gold to productive assets, he said there can be a dramatic change in India’s growth trajectory.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.