Jio Finance Ltd., a company owned by the wealthy Mukesh Ambani, is talking to banks to borrow money in the Indian currency. They might do this through a loan or by selling bonds, and they could start this as soon as early next year when banks are usually busy lending. The money they raise will be given to businesses.
Recently, it’s become tougher for small lending companies, known as shadow lenders, to get loans from banks because of stricter rules from the Reserve Bank of India. Because of this, many have moved to borrow money from foreign markets. However, Jio Finance plans to borrow from the local market first since it has a strong credit rating, rated AAA, which is better than most similar companies in India.
Jio Finance offers various financial products like home loans, loans for buying property, health insurance, and loans for businesses. It’s part of Jio Financial Services Ltd. and aims to take advantage of India’s growing digital market. They recently added their JioFinance app to another app called MyJio to reach more consumers. Additionally, Jio Finance might also borrow short-term money by selling commercial papers.
Leave a Reply