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Reliance to separate and listing financial services business

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Reliance Industries will spin off and list its financial services, allowing the oil-to-telecom conglomerate to enter and expand into financial services such as consumer and merchant lending, as well as build fintech for “all Indians.”

Reliance Industries, led by billionaire Mukesh Ambani, said in a statement that the new unit, Jio Financial Services, will incubate, acquire, and enter into joint ventures to broaden its offerings to include insurance, payments, digital broking, and asset management. To complement and supplement traditional credit bureau-based underwriting, it intends to offer lending based on proprietary data analytics. The company already lends to merchants and consumers through its wholesale business and retail stores.

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Reliance to separate and listing financial services business

Reliance Industries will spin off and list its financial services, allowing the oil-to-telecom conglomerate to enter and expand into financial services such as consumer and merchant lending, as well as build fintech for “all Indians.”

Reliance Industries, led by billionaire Mukesh Ambani, said in a statement that the new unit, Jio Financial Services, will incubate, acquire, and enter into joint ventures to broaden its offerings to include insurance, payments, digital broking, and asset management. To complement and supplement traditional credit bureau-based underwriting, it intends to offer lending based on proprietary data analytics. The company already lends to merchants and consumers through its wholesale business and retail stores.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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