RIL awaits nod for financial business

The Mukesh Ambani-led Reliance Industries has acquired shares in HDFC, ICICI Bank and Axis Bank as part of long-term investments. These financial investments, estimated to be worth Rs 1,200 crore, include purchase of shares of six banks, three each from the public and private sectors, and one housing finance major, HDFC Ltd. The banks whose shares RIL has acquired also include SBI, Punjab National Bank and Canara Bank.