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Jio Financial Services gets RBI nod to become core investment company

Jio Financial Services submitted an application to the RBI in November 2023 to convert its status from an NBFC to a Core Investment Company.

Updated on: Jul 12, 2024, 09:01:15 IST

By HT News Desk

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The Reserve Bank of India (RBI) approved conversion of Jio Financial Services from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC), the company said in a filing.

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People stand next to a logo of Jio Financial Services. (Reuters)

This comes after Jio Financial Services submitted an application to the RBI in November 2023 to convert its status from an NBFC to a Core Investment Company.

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Jio Financial made its official debut on the bourses on August 21, 2023.

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