Bank of America to invest Rs 18,268 cr for 49.9% stake in Jio Financial arm
Bank of America will invest ₹18,268 crore for a 49.9% stake in Jio Financial Services' subsidiary, Jio Credit Limited. The deal will initially grant a 26.5% stake, increasing upon warrant exercise. This partnership aims to enhance lending accessibility in India's growing financial sector, with JCL's assets under management at ₹30,667 crore as of June 30, 2026.