Jio Financial Services and BlackRock are expanding into the stock broking sector.

Banking & Finance

In January 2025, Jio Financial Services Limited (JFSL), based in Mumbai, announced that its joint venture, Jio BlackRock Investment Advisers Private Limited, has set up a fully owned subsidiary called 'Jio BlackRock Broking Private Limited' to enter the stock broking business, pending regulatory approvals.


      - Jio BlackRock Investment Advisers Private Limited was created with the main goal of offering investment advisory services.

     

     

Main Point :-   (i) In September 2024, JFSL and the US-based company BlackRock, Inc. each contributed Rs 3 crore to the joint venture.

      (ii) In October 2024, Jio BlackRock Investment Advisers Private Limited received approval from the Securities and Exchange Board of India (SEBI) to begin its mutual fund business.


          ____________________________