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Reliance will make a mark in the finance world through Jio Financial Services, preparing for big investments in renewable business
In the company's annual report on behalf of Mukesh Ambani, it was said that the objective of Jio Financial Services is to provide simple, affordable, and innovative digital-first solutions to customers. The company has partnered with BlackRock to enter the mutual fund business. Along with this, the company has a 6.1 percent stake in Reliance Industries.
The statement of Chairman and MD Mukesh Ambani has come to the fore after the separation of Jio Financial Services from Reliance Industries. In the Annual Report of Reliance Industries, he said that the objective of Jio Financial Services is to provide simple, affordable, and innovative digital-first solutions to customers.
Further in the report, he said that Jio Financial will provide financial services by taking advantage of Reliance's technology capabilities. Also, it will democratize financial services for Indian citizens.
Jio Financial Services was separated from Reliance Industries in July
Only last month, Reliance Industries separated its financial services company Reliance Strategic Investments Limited and renamed it Jio Financial Services Limited (JFSL). Its shares will be listed soon.
It was told in the report that the income of the new company may be less, but it has a 6.1 percent share of Reliance Industries, and recently the company has announced a partnership with BlackRock for mutual fund business.
Mukesh Ambani's track record of building new businesses for Reliance is impressive. His company Reliance Jio is the largest telecom company in the country. The company has 430 million subscribers. In the retail segment too, at present Reliance Retail has become the largest company in the country.
In the report, it was said on behalf of Ambani that the company aims to achieve the goal of Net Zero Carbon by 2035. Reliance is investing Rs 75,000 crore in renewable energy.
