Jio Credit to Get INR 18,268 Crore Investment from Bank of America
Bank of America would spend up to INR 18,268 crore ($1.9 billion) to buy a share of up to 49.9% in NBFC Jio Credit, a wholly owned subsidiary of Jio Financial Services. The investment would initially provide Bank of America with a 26.5% ownership.
In order to purchase up to 49.9% of Jio Credit, a wholly owned non-banking lending subsidiary of Jio Financial Services, Bank of America is planning to invest up to INR 18,268 crore ($1.9 billion). This is a sign that international investors are becoming increasingly interested in India's banking and insurance industries.
The investment will be made by a preferential allocation of equity shares and warrants, as stated in a written agreement signed on 12 August between the two companies. As a result of the deal, Bank of America now owns 26.5% of Jio Credit. Depending on the regulatory and legislative clearances, these acquired stakes could reach 49.9% when the warrants are exercised. Jio Credit was valued at approximately $3.8 billion in the investment.
How this Investment is Beneficial to Jio Credit?
As of June 30, 2026, the NBFC Jio Credit, which has been in operation for around two years, managed assets worth INR 30,667 crore. Mortgages, loans secured by assets, and commercial and supply-chain financing are all part of its secured lending product offerings. As the NBFC grows its lending portfolio in India, the new funding should help it do so. As an additional benefit of the collaboration, Bank of America will make its knowledge of technology, risk management, governance, and financial services available to Jio Credit.
Both partners will now have an equal voice on Jio Credit's board of directors thanks to the deal. Presently, however, the company's strategy and operations will be overseen by the same management team. Bank of America's worldwide skills and Jio's digital reach will work together, according to Mukesh Ambani, to make it easier for all Indians to get the credit they need. Bank of America's chair and chief executive, Brian Moynihan, said that the investment showed the US lender's faith in India, which it deemed as a key growth market.
Supreme Court Sends JioStar Back to Delhi High Court
The Supreme Court of India has requested that JioStar India Pvt Ltd go to the Delhi High Court to explain why it does not wish to modify its ongoing petition by disputing certain sections. The framework for regulating the price of television channels set out by the Telecom Regulatory Authority of India (TRAI).
The transfer petition of the broadcaster was decided upon on August 4th by a Bench consisting of Justice V Mohana, Chief Justice Surya Kant, and Justice Joymalya Bagchi. The decision was made after suggesting that it take its case to the Delhi High Court. Karanjawala and Co. was the law firm that represented JioStar before the Supreme Court.
In this lawsuit, JioStar contested several provisions of TRAI's rules regulating the price of television channels. This pricing covers the various aspects of cable and direct-to-home (DTH) distribution, such as tariff orders, maximum retail price (MRP) caps, and discount structures. On behalf of the network, renowned lawyer Mukul Rohatgi contended that the rules and regulations should be considered as one cohesive whole.
