Reliance Capital to become a Core Investment Company post transfer
Reliance Capital announced completion of transfer of its commercial finance division - Reliance Commercial Finance (RCFL) - into a separate wholly owned subsidiary. The transfer is effective 01 April 2017.RCFL is amongst the leading SME lenders in the Indian non-banking finance space with a focus on asset backed lending and productive asset creation. The Commercial Finance division has an aggregate asset under management (including securitized portfolio) portfolio of Rs 16,191 crore (US$ 2.4 billion) as of 31 December 2016.
Reliance Capital would be applying to the RBI for registering itself as a Core Investment Company (CIC) and expects to become a CIC soon, subject to necessary approvals
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