Reliance Money's Sudip Bandyopadhyay joins NMCE board

National Multi-Commodity Exchange (NMCE), the country's first online demutualised, multi-commodity exchange, today announced the induction of Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money Ltd., in its Board.

The Board Meeting of NMCE was held at New Delhi on July 22, 2008. 

This announcement comes at the back of Reliance Money agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities. 

"We are very pleased at the induction of Sudip Bandyopadhyay in our Board.  We strongly believe that Mr. Bandyopadhyay's vast experience of over 20 years in the financial sector will help us take NMCE to the next level," said Mr. Kailash Gupta, Managing Director, NMCE.    
 
Mr. Bandyopadhyay is responsible for leading the Reliance Anil Dhirubhai Ambani Group's ambitious foray in the financial broking and distribution business.  With 2.5 million plus customers within one year of its official launch and with a network of 20,000 plus touch points, Reliance Money is now India's 'TOP' broking and distribution house.

"I am indeed happy to have been inducted in the NMCE Board.  The strategic tie-up between NMCE and Reliance Money will help us utilize the vast growth potential of commodity trading business in India to its optimum," said Mr. Sudip Bandopadhyay.  

NMCE  is  the  country's  first  online  de-mutualised,  multi-commodity  exchange  with  nationwide  reach.  It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.  

Sourced From: Concept Public Relations India Pvt. Ltd