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

Banking & Finance | Dated: 25 Jan 2025

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.

🎯 Key Highlights:

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

💡 Other Important Facts:

  • (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.

📚 Test Your Knowledge:

Jio Financial Services recently collaborated with which global investment firm to enter the stock broking sector?

Correct Answer: BlackRock

🚀 Quick Recap: