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Jio Financial Services (JFS) has announced its entry into the stock broking business. The company said in a release on the exchange that it has taken several important steps to strengthen its presence in the Indian financial market. It has signed an agreement with BlackRock.
JIO FINANCIAL SERVICES has formed a new subsidiary Jio BlackRock Broking. The JV formed a subsidiary named Jio BlackRock Broking. Jio BlackRock Investment Advisers Private Limited is the JV of the company. It has entered the wealth management and broking business. Both the companies have a 50:50 stake in this JV.
Apart from this, the Securities and Exchange Board of India (SEBI) approved JFS and BlackRock to start mutual fund business in India in October 2024. Through these initiatives, Jio Financial Services is moving towards becoming a major player in the Indian financial sector, which will provide investors with comprehensive and innovative financial products and services. (Disclaimer: Network18 and TV18 companies operate channels/websites which are controlled by Independent Media Trust of which Reliance Industries is the sole beneficiary.
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