Part of Reliance group
Jio Credit
Latest, : Bank of America to acquire up to 49.9% of Jio Credit for ₹18,268 crore
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Background
From 6 stories, the newest dated 13 Sept 2026. Summary written 3 Oct 2026.
Jio Credit is the non-banking finance company (NBFC) subsidiary of Jio Financial Services. [1] source: Medianama
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It has operated for two years and is expanding in small-business and retail lending. [2] source: Outlook Business The Bank of America capital partnership supports its secured-loan expansion and a potential eventual entry into unsecured consumer credit. [1] source: Medianama
In August 2026, Jio Financial agreed to sell up to 49.9% of Jio Credit to Bank of America for Rs 18,268.2 crore, or $1.9 billion. [1] source: Medianama The deal starts with an initial 26.5% stake and 7.6 crore warrants, with 18 months for warrant conversion. [3] source: The Ken[1] source: Medianama Jio Credit's gross AUM exceeded ₹30,000 crore in Q1 FY27, up 163% year-on-year, and disbursements rose 173% to ₹11,252 crore. [4] source: Mint Its AUM was ₹30,667 crore as of June 30, 2026. [2] source: Outlook Business In September 2026, The Hindu BusinessLine reported that Jio Credit expects Bank of America's ₹18,268 crore investment to close by December. [5] source: The Hindu BusinessLine
Jio Financial Services is the parent group and Bank of America is the incoming investor. [5] source: The Hindu BusinessLine[1] source: Medianama Jio Financial also works with BlackRock and Allianz on other businesses. [6] source: CNBC-TV18
Sources
Questions about Jio Credit
Who owns Jio Credit?
Jio Credit is the NBFC subsidiary of Jio Financial Services. In August 2026, Jio Financial agreed to sell up to 49.9% of it to Bank of America for Rs 18,268.2 crore. [1] source: Medianama
How fast is Jio Credit growing in India?
Jio Credit's gross AUM exceeded ₹30,000 crore in Q1 FY27, up 163% year-on-year. Its quarterly disbursements rose 173% year-on-year to ₹11,252 crore, as Jio Financial Services said at its AGM in August 2026. [4] source: Mint
What is Jio Credit's current strategy in India?
In August 2026, Jio Financial agreed to sell up to 49.9% of Jio Credit to Bank of America for Rs 18,268.2 crore. [1] source: Medianama It reported AUM above ₹30,000 crore for Q1 FY27. [4] source: Mint In September 2026, Jio Credit said it expects the investment to close by December. [5] source: The Hindu BusinessLine