Updated: July 20, 2023, 05:54 PM IST
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Mukesh Ambani-backed Jio Financial Services… MoreJio Financial Services backed by Mukesh Ambani’s Reliance is all set to enter the financial lending space in India and create ripples. This development has been going on since 2015, when Reliance got the payments bank license from RBI. The group recently decided to demerge its financial services business. It will be called Jio Financial Services (JFS). Backed by the largest customer database in Telecom, Home-Internet Fiber, Retail, etc.; ZFS is in a unique position to take advantage of future consumer spending trends. The entry of ZFS is likely to make the NBFC sector more competitive.