Reliance retail enters money, finance, travel

Reliance Retail has started a division dealing with money, finance and travel. This will look after financing for retail customers, in-house travel, and loyalty programmes. According to sources, personnel from multi-national banks have been recruited for this division, though there is no comment from Reliance. The division will look after financing of consumer durables at Reliance stores, loyalty programmes for customers, and the travel needs of the group, which are estimated at Rs 400 cr. The company may also have plans to run mini-cabs in Mumbai.