Good news for Mukesh Ambani as Isha Ambani gets RBI approval for…

In a good news for Reliance Industries chairman tycoon Mukesh Ambani, the Reserve Bank of India (RBI) has granted approval to appoint Mukesh Ambani’s daughter Isha Ambani and two others as directors of Jio Financial. It is to be noted that Jio Financial is the NBFC firm of Reliance Industries.

"We wish to inform you that the RBI vide letter dated November 15, 2023, has accorded its approval for the appointment of Isha Mukesh Ambani, Anshuman Thakur and Hitesh Kumar Sethia as directors of the company," Jio Financial said in a regulatory filing on Thursday (November 10).

According to Jio Financial, the approval letter from RBI was received on November 15, 2023. Jio Financial Services has a net worth of Rs 1.2 lakh crore and it is one of the highest-capitalised financial services platforms in the world at the time of inception.

Jio Financial released its first earnings report recently and according to it the net profit of the company doubled quarter-on-quarter in Q3. Jio Financial, which was once a part of Reliance Industries, has recorded the consolidated net profit in the three months ended September 30 rose to Rs 668.18 crore compared to Rs 331.92 crore in the preceding quarter.

The revenue of Jio Financial jumped 47 per cent to Rs 608.04 crore against Rs 414.13 crore in the June quarter.