Jio Financial Services Limited has announced a key leadership transition in its risk management function, with the Board of Directors approving changes to senior management personnel during a meeting held on February 17, 2026.

Leadership Transition Details

The Board meeting addressed two significant appointments in the Group Chief Risk Officer position:

S. Anantharaman submitted his resignation letter on February 13, 2026, citing personal reasons and his decision to pursue other career opportunities. In his resignation letter addressed to Managing Director & Chief Executive Officer Hitesh Sethia, Anantharaman expressed appreciation for the opportunity to be associated with the company and the support extended by the Board, senior management, and colleagues during his tenure. He committed to ensuring a smooth transition of responsibilities and extending full cooperation to facilitate continuity of operations.

New Appointee Profile

Sandeep Khetan brings substantial expertise to the role, with over 24 years of extensive experience in banking operations. His professional background includes:

Qualifications and Experience:

• 2001-batch Chartered Accountant
• Specialized expertise in Credit Appraisal, Credit Risk, Market Risk, and Operational Risk
• More than 23 years at ICICI Bank in various leadership functions

Current Role at Jio Financial Services: Khetan joined the company on July 30, 2025, as Head – Integrated Risk Management. In this capacity, he has been instrumental in institutionalizing a unified risk governance architecture across the lending, insurance, and payments ecosystem. His work has focused on aligning risk frameworks and internal controls to build a robust, technology-driven 'Second Line of Defence' for the group.

Professional Expertise

During his banking career, Khetan developed expertise across multiple domains:

• Credit & Policy function for SME, MSME & Supply Chain Financing segments
• Retail and Business Banking distribution
• Managing scale and integrating complex risk frameworks
• Leveraging technology for predictive risk management
• Leading and building high-performing teams

Board Approval Process

The appointment of Sandeep Khetan as Group Chief Risk Officer was approved based on recommendations from both the Nomination and Remuneration Committee and the Group Risk Management Committee. The Board meeting, which concluded at 1:10 p.m. on February 17, 2026, formalized this leadership transition as part of the company's senior management personnel changes under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This leadership change reflects Jio Financial Services' commitment to maintaining strong risk management capabilities while ensuring continuity in its operations across the lending, insurance, and payments business segments.

Jio Financial Services Limited has launched a comprehensive fixed deposit platform on its JioFinance app, allowing users to access, compare, and invest in FDs offered by multiple banks and NBFCs. The announcement was made through a media release on February 11, 2026, highlighting the company's commitment to providing digital-first financial services.

Platform Features and Capabilities

The new FD platform offers several key features designed to enhance user experience:

Users can now compare fixed deposits from multiple financial institutions through advanced filtering options that allow sorting by interest rate and tenure. The platform supports a completely digital booking process without manual intervention, making FD investments more accessible and convenient.

Banking and NBFC Partners

The platform features deposits from a diverse range of financial institutions:

• Unity Small Finance Bank
• Suryoday Small Finance Bank
• Bajaj Finance
• Shriram Finance
• Utkarsh Small Finance Bank
• Mahindra Finance

This wide network of partners enables users to access competitive interest rates and choose from various tenure options based on their financial goals and preferences.

Digital Experience and Transparency

The JioFinance app provides comprehensive information to help users make informed decisions. Users can view detailed information about tenure options, tax applicability, lock-in periods, and terms and conditions for premature withdrawals. The platform also offers a consolidated tracking system that allows monitoring of ongoing and closed FDs, including returns tracking, maturity date reminders, and renewal notifications.

Leadership Commentary

Surbhe S. Sharma, Chief Executive Officer of Jio Finance Platform and Service Limited, emphasized the platform's role in empowering users to make smart financial choices. According to Sharma, the service addresses common challenges users face when comparing FD issuers, understanding interest rates, and tracking deposits across multiple platforms by providing a seamless and transparent digital experience.

Technical Infrastructure

The fixed deposit offering is powered by Blostem Fintech Private Limited, a B2B banking infrastructure platform that operates as a Business Correspondent and Technical Service Provider with multiple banks and NBFCs. This partnership enables the comprehensive range of FD options available through the JioFinance app.

Access and Availability

Users can access the new FD platform by downloading the JioFinance app and navigating to the 'Fixed Deposits' section via the home page. The service is designed to complement the app's existing financial services ecosystem, which includes loans, savings accounts, UPI payments, bill payments, digital insurance, and financial management tools.