Jio Financial Services Limited (JFSL) showcased strong momentum across its lending, asset management, payments, and digital platforms during its Annual General Meeting (AGM). Managing Director and CEO Hitesh Sethia highlighted robust growth in Q1 FY26 and shared the company’s four-pillar strategy to scale sustainably in India’s competitive financial services landscape.
Loan Book Growth Accelerates
JFSL’s NBFC loan portfolio surged to ₹11,665 crore in Q1 FY26, a steep jump from ₹217 crore a year ago. This rapid expansion was driven by deeper integration with Reliance’s consumer ecosystem and a sharper focus on cross-selling value-added financial services.
JioBlackRock MF Scales Rapidly
The JioBlackRock Mutual Fund, a joint venture with BlackRock, has emerged as one of the fastest-growing new entrants in India’s asset management industry. The platform has mobilised over ₹17,800 crore across its first two schemes.
Sethia confirmed plans for further expansion through fresh capital infusions and a proposed reinsurance joint venture with Allianz, broadening JFSL’s financial product suite.
Payments Business Gains Traction
JFSL’s payments arm continued its strong momentum:
- ₹21,400 crore worth of transactions processed in FY25
- ₹7,717 crore processed in Q1 FY26, marking 93% YoY growth
Meanwhile, Jio Payments Bank expanded its retail banking footprint:
- 2.58 million CASA customers
- ₹358 crore in deposits
- 50,000+ business correspondents supporting outreach
The bank is preparing to launch Savings Pro, a smart savings account linked to overnight mutual funds, offering customers liquidity with enhanced returns.
Four-Pillar Strategy for Growth
Sethia reaffirmed JFSL’s commitment to long-term growth through four pillars:
- Customer Delight – Prioritising superior user experience and service
- Democratising Access – Expanding financial inclusion across customer segments
- Technology & Data Analytics – Leveraging digital infrastructure for smarter decisions
- Responsible Scaling – Growing within a strong governance and risk management framework
Outlook
With its diversified presence across lending, asset management, payments, and banking, JFSL is positioning itself as a next-generation financial powerhouse. Its integration with Reliance’s ecosystem, coupled with partnerships like BlackRock and Allianz, strengthens its long-term growth trajectory in India’s expanding financial services market.
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