Current Affairs - Finance - Discussion

Jio Financial Services has received approval from the Reserve Bank of India (RBI) to transition from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC). This transition will allow Jio Financial Services to consolidate its various business verticals, such as lending, asset management, and insurance, into separate subsidiaries under the CIC structure. The announcement of this approval led to a significant increase in the company's share value, reflecting positive market reactions to the news.