Jio Financial Services Limited (JFSL) has announced a significant investment through its wholly-owned subsidiary, Jio Leasing Services Limited (JLSL), in a joint venture with Reliance Industries Limited. The move underscores the company's commitment to expanding its presence in the financial services sector.

Investment Details

JLSL has subscribed to 4.5 crore preference shares in Reliance International Leasing IFSC Private Limited (RILIPL), a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Limited (RSBVL). The investment, made on a rights issue basis, is valued at Rs 45.00 crore.

Cumulative Investment and Purpose

With this latest infusion, JLSL's total investment in RILIPL has reached Rs 166.55 crore. The primary purpose of this investment is to fund the business operations of RILIPL, indicating a strategic move to strengthen the joint venture's financial position and operational capabilities.

Transaction Details

The investment has been classified as a related party transaction for JLSL but is reported to be conducted on an arm's length basis. Importantly, JFSL has clarified that none of its promoters, promoter group, or other group companies have any interest in this investment.

Regulatory Compliance

JFSL has emphasized that no governmental or regulatory approvals were required for this investment. The company received intimation about the investment from JLSL on the day of the transaction, demonstrating prompt internal communication and transparency.

This strategic move by Jio Financial Services Limited, through its subsidiary, highlights the company's ongoing efforts to solidify its position in the financial services landscape. The investment in the joint venture with Reliance could potentially lead to expanded operations and new opportunities in the leasing and financial services sector.

Jio Financial Services Limited's (JFSL) subsidiary, Jio Payments Bank Limited (JPBL), has announced a significant change in its digital presence. The bank has updated its official website domain name in compliance with guidelines issued by the Reserve Bank of India (RBI). This move underscores JPBL's commitment to maintaining high standards of security and transparency in the digital banking sphere.

Key Changes

• New Domain: www.jiopayments.bank.in
• Previous Domain: www.jiobank.in

Customers and stakeholders are advised to use the new domain for all official communications and to access JPBL's online banking services.

About Jio Payments Bank

JPBL, incorporated in November 2016, is positioned as a next-generation, digital-first bank aiming to revolutionize banking in India. The bank offers a comprehensive suite of services catering to diverse financial needs:

Jio Financial Services Ecosystem

JPBL is part of the larger Jio Financial Services Limited ecosystem, which includes:

• Jio Credit Limited
• Jio Insurance Broking Limited
• Jio Payment Solutions Limited
• Jio Leasing Services Limited
• Jio Finance Platform and Service Limited

JFSL has also entered into strategic partnerships:

1. A 50:50 joint venture with BlackRock for asset management, wealth management, and broking services.
2. A 50:50 joint venture with the Allianz Group to offer reinsurance services, pending regulatory approvals.

Digital-First Approach

JFSL is committed to enhancing the financial well-being of Indian citizens through its digital-first model. The JioFinance app offers a wide range of solutions, including:

• Loans
• Savings accounts
• UPI transactions
• Bill payments and recharges
• Digital insurance
• Financial tracking and management tools

This domain change reflects JPBL's ongoing efforts to align with regulatory guidelines while continuing to provide secure and innovative digital banking solutions to its customers.