As always Reliance has made its mark. A record breaking 5,00,000 subscribers were roped in by Big TV DTH, a part of Reliance Communication in the first two months of its launch.

On Thursday, the central government was questioned by the Bombay High Court as to why it wanted to interfere in the petition filed by Reliance Industries Ltd in its case against Reliance Natural Resources Ltd over gas supply agreement.  

A division bench of Justices J N Patel and K K Tated questioned government's lawyer T S Doabia, “How is the government affected by grounds on which RIL has filed appeal against single judge's order?”

Anil Ambani-run Reliance Money has acquired 15 pc stocks in Hong Kong Mercantile Exchange (HKMEx). Reliance Money is the retail branch of Reliance Capital. It would be the first ever Indian company to acquire a stake in an international exchange. HKMEx is likely to start services in the first quarter of 2009.

Anil Ambani managed Reliance Communications, country’s second biggest wireless operator, has announced a mobile plan christened ‘Rs 550 Jaadu Pack’ that is set to re-define the mobile telephony market in Indian market. 

With this newly introduced plan, pre-paid subscribers with lifetime validity would now be able to make local calls at just 50 paise per minute and STD calls to any phone anywhere in India at just Re 1 for lifetime by making a one-time payment of just Rs 550.

Citibank has revealed that it will soon enter into a 50:50 joint venture (JV) with Mukesh Ambani-owned Reliance Retail with the aim to distribute the former`s consumer finance products such as loans and credit cards.

According to the sources, the JV is likely to work as a non-banking financial conglomerate (NBFC) with a combined investment of Rs 5 billion.

Citibank has already commenced distributing its retail banking products through Reliance Retail. Citibank has pumped about US$ 62 million in the partnership.