Reliance's Jio Financial Services receives RBI approval to convert to a Core Investment Company (CIC).
Reliance Industries' financial services division, Jio Financial Services, has received RBI approval to convert from an NBFC to a Core Investment Company (CIC). As a CIC, JFS can hold at least 90% of its net assets in group company investments. The company reported a 6% rise in consolidated net profit for the fourth quarter of 2024, totaling ₹311 crore.
July 12, 2024
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