Jio Financial Services Limited (JFSL) has established a new wholly owned subsidiary, Jio Finance Platform and Service Limited, to expand its presence in financial product distribution and related services.
Incorporated on August 14, the subsidiary starts with an initial investment of ₹1 Lakh for 10,000 equity shares, each valued at ₹10. The move, confirmed by the Ministry of Corporate Affairs, doesn't involve related party transactions or require additional regulatory approvals, positioning JFSL for growth in the fintech sector.