With reference to the news item appearing in a leading financial daily titled “Religare to set up retail outlets for personal finance”, Religare Enterprises Ltd has clarified to BSE that this news item has been picked by the media from Industry sources and that Religare has not offered any official comment / issued any official press release regarding the same to the media.

Further the Company has informed that, Religare Finvest Ltd (RFL), a wholly owned subsidiary of Religare Enterprises Ltd (REL), has recently undertaken an initiative to launch its Religare Finmart branded chain of financial services stores across the country to service the growing need of third party distribution and consumer finance business.