Reliance Capital, on Friday, said it had decided to suspend sale of gold in physical form, including supply of gold coins for sale through India Post, and also as an investment product, across all its businesses and subsidiaries.
Asset under management
Reliance Gold Fund is having an assets under management (AUM) of around Rs.3,000 crore. Reliance Money is the largest distributor of gold coins through its tie-up with India Post.
In addition, it said, Reliance Capital’s Commercial Finance Division had decided to suspend financing against gold as a security. Further, Reliance Capital Asset Management (RCAM), a part of Reliance Capital, had decided to suspend new subscriptions in Reliance Gold Savings Fund. However, “existing SIP investors will not be affected by this decision,” it added.