Reliance has been building a vibrant financial services platform to create value for every stakeholder. JFSL is uniquely positioned to capture multiple growth opportunities in financial services bringing millions of Indians into formal financial institutions. It will be a technology-led business, delivering financial products digitally by leveraging the nationwide omnichannel presence of Reliance’s consumer businesses, as per the company.

JFSL plans to acquire liquid assets to provide adequate regulatory capital for lending to consumers and merchants. Besides, it will incubate other financial services verticals such as insurance, payments, digital broking, and asset management for at least the next three years of business operations.

In a separate filing, RIL said that CARE Ratings has reaffirmed the credit rating of ‘CARE AAA’ with ‘Stable’ outlook for the non-convertible debentures (NCDs) of the company. The agency believes that RIL will continue to maintain its leadership position in its diversified key business segments, viz., oil to chemicals, telecom and retail, which shall lead to sustenance of its strong credit profile on a consolidated basis.

“The ratings also factor in the leadership position attained by the group’s telecom venture in the industry, the leadership position in the organised retail sector as well as the induction of various strategic partners in the digital, retail and media & entertainment businesses. RIL’s strong consolidated financial risk profile, marked by its comfortable capital structure and superior liquidity as well as financial flexibility, further underpin its ratings,” CARE Ratings said in its report.

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