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Jio Financial Services (JFS) is hoping to start general and life insurance businesses this year, a top company official has said. The financial services company does not have any immediate plan to get into the unsecured and consumer durable lending businesses. "We hope to start insurance manufacturing in 2026, subject to regulatory approvals," its chief executive and managing director Hitesh Sethia told PTI recently. The company, which recently entered the reinsurance business, along with its equal joint venture associate Allianz, will partner with the French company for general and life insurance businesses as well. Sethia said in parallel, the company is working towards building the necessary teams for the insurance foray. JFS, which is promoted by entities linked to the richest Indian Mukesh Ambani, has entered lending businesses, like assisting home buyers, asset management, wealth management and reinsurance, either by itself or through partnerships. Explaining its strategy i
Jio Financial Services Ltd (JFSL) on Thursday said it has infused Rs 2,000 crore in its subsidiary Jio Credit Ltd to fund its business growth. The company has subscribed to and has been allotted 3,35,71,923 equity shares of Rs 10 each of Jio Credit Ltd, a wholly-owned subsidiary (non-banking financial company), for cash at a premium of Rs 585.70 per equity share, aggregating Rs 1,999.88 crore, JFSL said in a statement. JCL will utilise the amount to fund its business operations, it said. Last month, JFSL reported a 9 per cent drop in consolidated profit at Rs 269 crore in the third quarter ended December 2025. The company earned a consolidated net profit of Rs 295 crore in the same quarter of the previous fiscal. However, the company's consolidated net profit stood at Rs 695 crore in the second quarter of the current fiscal. Total income nearly doubled to Rs 901 crore, from Rs 449 crore in the third quarter of the previous fiscal.
Jio BlackRock Asset Management, which launched its services in May, has built an investor base of 10 lakh, with nearly 18 per cent comprising first-time mutual fund investors, its MD and CEO Sid Swaminathan said on Tuesday. The joint venture between Jio Financial Services and BlackRock has also seen strong participation from investors beyond major metros, with 40 per cent of its retail investors coming from B-30 cities, significantly higher than the industry average of 28 per cent. B-30 cities in India refer to cities beyond the top 30. Speaking to reporters here, Swaminathan attributed this deeper market penetration to its technology-led approach and sustained focus on investor education. Jio BlackRock AMC manages assets worth over Rs 13,700 crore, with equities accounting for around 30 per cent of the total assets under management, while the remaining 70 per cent is invested in fixed income and cash. Looking ahead, the company plans to focus on key strategic initiatives, includi