Which company received RBI approval to transition from a Non-Banking Financial Company to a Core Investment Company?

A)
Tata Capital
B)
HDFC Financial Services
C)
Jio Financial Services
D)
Reliance Financial Services

Correct Answer :   Jio Financial Services


Jio Financial Services has received approval from the Reserve Bank of India (RBI) to transition from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC).

This transition will allow Jio Financial Services to consolidate its various business verticals, such as lending, asset management, and insurance, into separate subsidiaries under the CIC structure.

The announcement of this approval led to a significant increase in the company's share value, reflecting positive market reactions to the news.

Published On : July 15, 2024