Jio Financial Services in the Works – Launch Expected This Year!
There’s news that Akash Ambani’s team at Reliance Jio is trying out a new project. They’re testing it now, and there’s a buzz that they might roll out Jio Financial Services later this year.
Mukesh Ambani, who’s the richest person in India and the head of Reliance Industries, is known for making bold moves and shaking up markets when he ventures into new industries. Now, his son Akash Ambani, who leads Reliance Jio Infocomm, is stepping into the world of consumer finance with a new venture called Jio Financial Services.
Testing New Jio Financial Services:
There are reports saying that a trial run of the new project is happening in specific Reliance Digital stores. Akash Ambani took over as the chairman of Reliance Jio’s board when his dad, Mukesh Ambani, stepped down.
As per a report from The Economic Times Hindi, Reliance Jio is currently testing this project, and it seems they might roll out Jio Financial Services later this year.
Now, in simple terms, under this trial run by Reliance Jio, customers can opt to buy stuff and pay in installments. If Jio Financial Services launches, it’ll directly compete with big players like Bajaj Finserv, HDFC Bank, and others.
Ambani – Exciting Offers to Shake Up Retail Business:
According to the report, Jio wants to bring in some attractive deals to get more customers, which will, in turn, boost the profits of Reliance Retail. It’s worth mentioning that Mukesh Ambani’s daughter, Isha Ambani, is in charge of Reliance Retail.
Experts believe that if Reliance Jio steps into the non-banking financing industry, it could cause quite a stir, just like how Mukesh Ambani’s moves changed the game in telecom and streaming services.
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