Jio Financial

Originally incorporated in 1999 as Reliance Strategic Investments, the company was rebranded as Jio Financial Services (JFSL) following its demerger from Reliance Industries in 2023. JFSL is a digital-first institution offering a wide range of financial services, including loans, savings, UPI bill payments, recharges, digital insurance, and financial management tools through the JioFinance app. JFSL operates through various subsidiaries, such as Jio Finance, Jio Payments Bank, and Jio Leasing Services, and has a joint venture with BlackRock to offer asset management and broking services in India. Jio Financial Services Limited was incorporated as a Private Company with the name and style of `Reliance Strategic Investments Private Limited' dated July 22, 1999, issued by the Registrar of Companies, Maharashtra in Mumbai. Subsequently, the status of the Company got converted from Private to Public renaming the Company as `Reliance Strategic Investments Limited' dated January 14, 2002, in Mumbai. Consequently, through the Scheme of Arrangement, the name of Company was changed to Jio Financial Services Limited and a fresh Certificate of Incorporation dated July 25, 2023 was issued by the Registrar of Companies, Maharashtra at Mumbai. "Jio" is regarded as a trusted brand in India, widely recognised by retail customers, merchants and small businesses. At present, Company is is engaged in the business of investing & financing, insurance broking, payment bank, payment aggregator and payment gateway services. The payments platform helps merchants grow their business by giving them solutions which allows them to accept payments, acquire and retain consumers, improve their business operations, and access financial services. The payment bank provides a comprehensive suite of digital payment banking solutions, to both individuals and small business (including merchants). Insurance broking business offers insurance led solutions to the walk-in customers at retail store outlets servicing them both digitally and with dedicated sales associates and trained staff. It focuses on providing insurance solutions to corporate customer, vendor partners and small businesses. It also provides supply chain financing, vendor financing and enterprise leasing solutions for devices and cars to corporate customers. In 1999, the Company was registered with the RBI to carry on the business as a non-banking financial institution not accepting public deposits. In 2023, Scheme of Arrangement between Reliance Industries Limited and the Company was implemented. The Financial Services Business from Reliance Industries Limited (RIL) was demerged/ transferred into the Company through the Scheme of Arrangement for Demerger and the said Scheme became effective from 1st July, 2023. In terms of the Scheme, the Company has issued and allotted 635,32,84,188 equity shares having a face value of Rs 10 each fully paid up, for every 1 fully paid-up equity share held in RIL on 10 August, 2023. The Company formed a joint venture with BlackRock Inc., to enter into asset management, subsequently expanding into wealth management & broking services in 2023. In 2024, Company implemented a modern, bespoke technology stack across each business unit. It developed a cloud-native technology stack, incorporating Artificial Intelligence (AI) and data driven capabilities to deliver optimal performance and cost efficiency. UPI international payments launched during Paris Olympics 2024 in FY 2024-25. Jio Credit Limited (JCL), established a presence in 10 Tier-I cities to support lending growth, while Jio Payments Bank Limited's (JPBL) Business Correspondent (BC) network scaled rapidly to over 14,000+ BCs, in 2025. JCL, the lending arm, saw its Assets Under Management grow from Rs 173 crore at the end of FY24 to Rs 10,053 crore as on March 31, 2025. The Company acquired SBI's 14.96% stake in Jio Payments Bank Limited (JPBL) on June 18, 2025.