Jio Financial Services Limited JIOFIN

“India is one of the world's most important growth markets, and this investment reflects our confidence in its future, a market we know well and have supported for decades,” Bank of America CEO Brian Moynihan said on the deal.

The deal will bring together Jio Financial Services’ digital distribution with Bank of America’s financial services capabilities.

Bank of America stock has delivered a 138.5% return over the past three years, yet current valuation checks indicate the shares still sit below an intrinsic value estimate from the Excess Returns model and also screen as undervalued on earnings based multiples. A 138.5% three year return puts Bank of America among the stronger performers in large cap financials, which raises the bar for what counts as an attractive entry price now. The joint venture with Jio Financial Services in India and...

The proposed entity will combine JFSL’s digital infrastructure and distribution reach with Allianz’s experience in insurance.

The company is also building the teams required for the insurance expansion in parallel.

Final approval for the venture was granted by the IRDAI earlier this month.

Allianz (XTRA:ALV) has received regulatory approval for Allianz Jio Reinsurance, a 50:50 joint venture with Jio Financial Services in India. The company is also introducing a new registered index linked annuity in the US through Allianz Life to expand its retirement income range. Alongside these moves, Allianz continues to deploy capital globally, including acquisitions and investments in areas such as energy storage and fintech. For you as an investor, these updates show XTRA:ALV leaning...

The IRDAI granted certificates of registration to the two entities during its 134th board meeting.

Bharti Airtel will invest 200 billion rupees ($2.2 billion) in its financial ‌arm over the next few years, ‌India's second-largest mobile carrier by number of users said ​on Monday, as it steps up its push into digital lending. The capital will be infused into its subsidiary, Airtel Money, which received a ‌non-banking financial company (NBFC) ⁠license from the Reserve Bank of India on February 13. Airtel's expansion comes ⁠as competition intensifies in India’s non-bank lending sector, where conglomerates such as Jio Financial Services ​and established ​players like Bajaj ​Finance are scalin