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Reliance Capital Limited (RCL) was founded in the year 1986 at Ahmedabad, Gujarat as Reliance Capital & Finance Trust Limited. The RCL moniker came into being from the 5th of January, 1995. In 2002, RCL shifted its registered office to Jamnagar in Gujarat prior to finally shifting to Mumbai in 2006. In 2006, RCL merged with Reliance Capital Ventures Limited and the shareholder base of RCL went up from 0.15 million to 1.3 million.
About Reliance Capital
RCL had its maiden public issue in the year 1990 and entered the capital market likewise. It tapped capital markets through public issues and rights issues in subsequent years. The equity shares are now listed on the Bombay Stock Exchange and National Stock Exchange. RCL earlier carried out annuity yielding businesses including bill discounting, leasing and inter-corporate deposits. Later in 1993, it diversified its business to include portfolio investment, custodial services, money market operations, lending against securities, investment banking, project finance advisory services and so on. The spectrum of Reliance Capital financial services grew considerably in this period.
RCL got its registration as a non banking finance company (NBFC) in December 1998. It has since diversified into asset management, mutual funds, life and general insurance, industrial and commercial finance, depository services, stock broking, distribution of financial products, asset reconstruction and more such Reliance Capital services. The company’s net worth as of March 31st, 2016 is $2.3 billion (INR 15, 390 crore) with total assets of $10.2 billion (INR 67, 112 crore). RCL is a constituent of CNX Nifty Junior and MSCI Global Small Cap Index and part of the Reliance Group with interests also in equities and commodities broking and proprietary investments. Reliance Mutual Fund already has more than 6 million investor portfolios while Reliance Life & General Insurance are among the leading private sector insurers in the country. Reliance Securities is a major retail broking house and Reliance Money is one of the biggest distributors of financial products and services. The corporate office of Reliance Capital & the Group is at the Reliance Centre in Santacruz. Reliance Capital has also struck some of the most awe inspiring deals in the Indian financial services sector including the sale of 26% stake in the life insurance business to Nippon Life Insurance, one of the biggest life insurers in the world and the transaction was sealed at a whopping INR 3, 062 crore.
About the Reliance Group
The Reliance Group was founded by the late Dhirubhai Ambani and is a conglomerate with business interests across telecommunications, financial services, power, media, infrastructure, entertainment and healthcare. The Group impacts the lives of more than 250 million customers across the country along with having a presence across more than 25, 000 cities and towns along with 400, 000 villages. It is one of the biggest employers in India and is only 9 years old with a family of more than 8 million shareholders.
Reliance Capital loans
Reliance Capital offers several kinds of loans through its Commercial Finance division which is one of the leading lenders in the non banking finance segment. RCF offers home loans, loans against property, vehicle loans, small and medium enterprises loans, infrastructure financing and loans for construction equipment. The company has close to 70, 000 customers across approximately 37 Indian metros.
Reliance Capital Home loan
Reliance Home Finance Limited is a part of Reliance Capital Limited and is one of the highly valued entities in this segment. Reliance Home Finance seeks to adopt a partner-like approach towards helping customers fulfill their needs and housing ambitions. There is higher loan eligibility and customized loan solutions are provided as well. Other Reliance Capital loan details for housing include longer tenures and lower EMIs though the maximum tenure can be 30 years. There are attractive Reliance Capital interest rates on offer along with simple and transparent documentation.
Doorstep services are offered by the company along with swift and hassle free loan processing. Loan sanctions are also possible prior to selection of any property. Loans are also offered under the No Income Proof scheme.
Reliance Capital Loan against property
When it comes to the loans against property, Reliance Commercial Finance helps customers unlock the real value of their properties to meet financial requirements. Solutions are always customized as per specific needs of borrowers. Loans are given against residential, industrial and commercial land and properties. There are no financials needed for loans up to INR 3 crore.
There is higher LTV with flexible repayment options and longer tenures. For salaried individuals, the minimum and maximum age limits are 21 and 58/60 years respectively and the minimum income has to be INR 5, 00, 000. The property can be a resale/ready property or even a under construction project from a pre-approved developer. The same rules apply for self employed professionals and businessmen though their maximum age limit can be extended till 65.