Jio Financial Services × Bank of America: Major JV Deal

Jio Financial Services and Bank of America Corporation (BofA) have entered into a definitive agreement for BofA to acquire up to 49.9% stake in Jio Credit, JFSL’s wholly-owned NBFC lending subsidiary. 💰 Investment: Up to ₹18,268 crore (~$1.9 billion) 📌 Initial stake: 26.5% 📈 Potential stake: Up to 49.9% through warrants The partnership will combine Jio’s digital reach and India market expertise with BofA’s global financial services capabilities, strengthening Jio Credit’s capital base, risk management, governance and technology capabilities. A significant move for JFSL as it looks to scale its lending business and tap India’s rapidly growing financial services opportunity.