The board of directors of Reliance Industries (RIL) has given its approval to the company to enter into the telecom sector.

They have said that whenever the time is right for the company to enter into the growing area, it could do so.

As of now, it is said that RIL is eyeing the lucrative bandwidth market and has no plans, as of yet, for the mobile services market to the individuals. They, however, are going to go for the business to business selling model and will go only for the corporates.

But till now, the real intentions are not clear and something is expected to come out in the AGM to be held on June 18.

There is also buzz in the market that RIL is looking forward to buy Futuristic’s arm Infotel broadband services. But the company has denied any such development.

The announcement comes just after the non-competing agreement between the two brothers ended. Anil Ambani-owned Reliance Communications is already in the business. The company is operating in various telecom circles and offers a set of telecom services to retail and corporate customers. Reliance Communications is facing pressure on margins as the company has to offer low prices to compete in the Indian market.