Jio Financial Services, a subsidiary of Reliance Industries, and global investment management giant BlackRock have jointly applied for a mutual fund license with the Securities and Exchange Board of India (SEBI).
The move signifies the companies' strategic foray into the mutual fund industry, potentially offering a diverse range of investment products to the Indian market. This collaboration brings together the technological prowess of Jio and the extensive financial expertise of BlackRock.
If approved, the venture could reshape the landscape of mutual fund offerings in India, providing investors with innovative and robust investment opportunities.