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Reliance capital to spin off home loan business

Reliance Capital Ltd recently announced the decision to spin off its home loans business into a new company. It has sought the mortgage market regulator’s approval, the Mint newspaper said on Wednesday. “We have decided to float a separate company for home finance,” the paper quoted the firm’s chief executive Sam Ghosh as saying.

Reliance Capital also runs India’s largest asset management firm, a stock brokerage and insurance businesses.

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