Reliance Capital has commenced its asset monetization process to unlock value of its underlying businesses and targets to make RCAP debt-free. SBI Capital Markets Limited and JM Financial Services Limited will run an independent and transparent asset monetization process, as per banking sources. The process was launched on October 31, 2020 by inviting Expression of Interest (EOI) for it's key assets. The monetization process is being run under the aegis of Committee of Debenture Holders and the Debenture Trustee Vistra ITCL India Ltd - which represents 93 per cent of total outstanding debt of Reliance Capital. The EOIs invited for all or part of RCL's stake in the key subsidiaries and assets individually or in any combination thereof. This includes 100 per cent stake in Reliance General Insurance Company Limited (RGI). The paid up capital of Reliance General Insurance is Rs. 252 crore as of September 30, 2020.