Reliance Capital, the financial services arm of the Anil Dhirubhai Ambani Group (ADAG), will consider setting up a bank after the necessary regulatory changes are made by the central bank, besides unlocking the value of other businesses. Anil Ambani, chairman, Reliance Capital, told shareholders at the annual general meeting of the company in Mumbai on Tuesday that it would consider making a foray into the banking sector, after the Reserve Bank of India (RBI) finalises the guidelines pertaining to licences to be issued to new banks. The new venture would be called Reliance Bank, he added.
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