RBI approves appointment of Isha Ambani, Anshuman Thakur, Hitesh Sethia as directors of Jio Financial Services
Banking & Finance
Non-banking financial company Jio Financial Services announced that the Reserve Bank of India has approved the appointment of Isha Ambani, Anshuman Thakur and Hitesh Sethia as directors of the company. Isha was also appointed the leader of Reliance Retail by the shareholders of Jio Financial's parent company Reliance Industries in August 2022, along with Akash and Anant Ambani as non-executive directors on the board of RIL. According to the official release, the approval is valid for six months. “If the company fails to give effect to the proposal within this time limit, it must re-apply with the reasons for failing to give effect to the change at the first opportunity.” In its first quarterly statement after listing on the stock exchanges in August, Jio Financial Services reported a net profit of ₹668 crore for the July-September period, up 101% from the previous quarter. Non-banking financial company (NBFC) total income for the quarter stood at ₹608 crore. The lender's interest income declined to ₹186 crore in the April-June FY24 quarter from ₹202 crore.
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