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Jio Financial set to launch suite of loan products in billionaire Ambani's finance push
Reuters
·
1y ago
Medial
Jio Financial Services, backed by billionaire Mukesh Ambani, plans to introduce auto, home loans, and other products as it aims to establish itself as a full-service financial services firm in India. The company has already launched personal loans and consumer durable loans, with plans to launch business and merchant loans. Additionally, Jio Financial's insurance broking arm has partnered with 24 insurance companies, and its payments bank division intends to launch debit cards. The company's focus on technology and artificial intelligence will serve as its growth differentiator.
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Related News
Mukesh Ambani's Ambitious Gamble: Jio Financial Services' Potential to Redefine Finance in India
StartupTalky
·
1y ago
Medial
Jio Financial Services, a subsidiary of Reliance Industries, aims to address the financial inclusion gap in India by offering a comprehensive suite of financial products and services. Leveraging the extensive reach of the Jio network, Jio Financial Services plans to provide seamless digital access to banking, insurance, microfinance, and more. The company envisions transforming the Indian financial landscape by promoting financial literacy and driving economic growth. However, it faces challenges in terms of competition, regulatory hurdles, and data privacy and security.
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Jio Financial Services launches JioFinance app with loans, savings, and insurance solutions
YourStory
·
10m ago
Medial
- Jio Finance app has been launched on Google Play Store, Apple App Store, and MyJio after the success of its beta version. - The app now offers services like loan on mutual funds, home loans, loan against property, integrated UPI payments, mobile recharges, and credit card bill payment. - It provides a consolidated view of the user's bank accounts and mutual fund holdings. - The app also offers a wide range of insurance plans across life, health, and vehicle categories. - Users can open digital savings accounts within five minutes with Jio Payments Bank, which already has over 1.5 million users managing their routine recurring expenses through these accounts. - Jio Finance aims to become a trusted financial companion for the people of India and offers a comprehensive suite of financial products.
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Jio Financial Services Incorporates New Subsidiary To Push For Financial Products Distribution Biz
Inc42
·
11m ago
Medial
Fintech platform Jio Financial Services (JFSL) has created a new subsidiary, Jio Finance Platform and Service Ltd. The subsidiary will focus on distributing financial products and associated services. The move highlights JFSL's goal to expand its offerings in the financial sector.
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Backed by Jio platforms, ZestMoney founders launch SwiffyLabs
OutlookIndia
·
1y ago
Medial
Lizzie Chapman and Ashish Anantharaman, founders of Buy Now Pay Later firm ZestMoney, have launched a new B2B fintech startup called SwiffyLabs. Backed by Jio Platforms, the company aims to build infrastructure for banks and financial institutions, focusing on introducing modern products like embedded finance and invoice financing using advancements in AI and digital public infrastructure. This launch comes after ZestMoney shut down its operations amid regulatory discrepancies and failed acquisition discussions with fintech major PhonePe. Talks for DMI Finance and Aditya Birla Finance to acquire ZestMoney are currently underway.
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Equirus Group receives RBI approval to launch NBFC; targets Rs 3,000 crore loan book
IndianStartupNews
·
2d ago
Medial
Equirus Group has received approval from the Reserve Bank of India to launch its non-deposit-taking Non-Banking Financial Company, Equirus Finance. This expansion aims to integrate its wealth management, investment banking, and equities businesses, offering lending products such as Loan Against Securities and ESOP financing tailored for high-net-worth individuals and corporates. The NBFC seeks to establish a diversified loan book of Rs 3,000 crore, emphasizing a client-centric approach with seamless advisory and funding solutions.
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The Jio Threat To Fintech Startups
Inc42
·
1y ago
Medial
Jio Finance Services (JFS) is set to launch its own super app called 'JioFinance', integrating various fintech services including digital banking, UPI, bill payments, insurance advisory, digital lending, and investments. This move is expected to bring significant changes to the existing fintech landscape in India, which has been dominated by a multitude of separate apps for different financial services. With JFS consolidating these services into one app, it aims to revolutionize the way Indians access and manage their financial needs.
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Why Mukesh Ambani's Reliance Jio partnered with US-based Plume
IndianStartupNews
·
1y ago
Medial
Mukesh Ambani's Reliance Jio has partnered with network service provider Plume to offer advanced smart home and small business services to its Indian subscribers. The collaboration aims to serve around 200 million locations in India using Plume's scalable cloud platform, offering services like adaptive WiFi, device optimization, cyber threat protection, and more. Jio's teams can utilize Plume's support and operations suite to address performance issues and enhance the customer experience. Plume's SaaS platform is currently used in over 55 million locations worldwide and provides data-driven tools for CSPs and personalized features for users.
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Mukesh Ambani's Jio to disrupt Indian PC market with Cloud laptop
IndianStartupNews
·
1y ago
Medial
Reliance Jio, led by Mukesh Ambani, is venturing into the PC market with a cloud laptop priced at approximately Rs 15,000. This move aims to reduce the traditional ownership costs of PCs, making them more affordable for consumers. Jio's cloud laptop will act as a "dumb terminal," with most storage and processing handled by their cloud services. The company is in talks with major manufacturers like HP, Acer, and Lenovo for the launch of this product. Jio plans to offer a monthly subscription model for its cloud laptop service, with bundled services and additional features available at an extra cost.
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Reliance's Jio Financial falls 5% in market debut, valued at $19 bln
Reuters
·
1y ago
Medial
Shares of India's Jio Financial Services (JFS) , carved out of billionaire Mukesh Ambani-led Reliance Industries , fell as much as 5% in their trading debut on Monday, valuing the company at 1.58 trillion rupees ($19 billion).
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Jio Financial tweaks plans after RBI move on unsecured lending
Livemint
·
1y ago
Medial
Jio Financial Services Ltd (JFSL) is shifting its lending strategy to focus on secured loans after the recent RBI restrictions on unsecured consumer loans. The company plans to launch device-as-a-service (DaaS) along with supply chain financing, loan against shares, and home loans. Jio Financial Services has completed testing for consumer durable loans and personal loans, and has filed for conversion from an NBFC to a core investment company (CIC). The move comes as banks and NBFCs are being cautious towards unsecured lending due to rising risks and higher risk weights imposed by RBI.
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