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November 01, 2007 18:39 IST
Broking house Reliance [Get Quote] Money on Thursday said it plans to expand its operations in the country by taking the number of outlets up to 10,000 by the end of this fiscal.
The financial services and products distribution arm of Anil Dhirubhai Ambani Group currently has around 4,000 outlets, company's Director and CEO Sudip Bandyopadhyay told reporters.
"We will have 10,000 outlets by the end of this year. We have decided to be in 5,165 talukas of the country," he said.
Launched in April this year, the company has 2.5 lakh customers. The number of kiosks would also be increased to 10,000 from the current 2,500 by March, Bandyopadhyay said.
Reliance Money announced on Thursday a free trading account for one year for customers opening demat accounts with the company for trading up to Rs 500,000, focusing on semi-urban and rural areas with this initiative.
"Our entire business model aims to significantly increase the market size, rather than capture major portion of the existing market", he said.
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