Archive · 13 Sep 2026
Jio Credit to Redraw Strategy After Bank of America Infusion
Jio Credit is a lending company owned by Jio Financial Services.
Bank of America plans to put ₹18,268 crore into the company.
The money is expected to arrive by December 2026 if regulators approve the deal.
Bank of America would receive slightly less than half of Jio Credit.
After receiving the money, Jio Credit plans to rethink its products and business strategy.
The company hopes its managed loans could grow from about ₹30,000 crore to as much as ₹1.5 lakh crore over time.
This is a possible growth path, not a deadline or fixed target.
Jio Credit also plans to serve customers more deeply in up to 20 Indian cities.
Bank of America is expected to invest ₹18,268 crore in Jio Credit by December 2026, subject to regulatory approvals.
The investment would give Bank of America a stake of slightly less than 50% in Jio Credit.
Jio Credit’s current assets under management of about ₹30,000 crore could eventually grow nearly fivefold, Jio Financial Services said.
Jio Credit will reassess its business strategy and product roadmap after the capital infusion, including possible consumer durable and unsecured lending plans.
The company plans to focus on deeper distribution across up to 20 Indian cities rather than expanding nationwide.
- Who
- Jio Credit, its parent Jio Financial Services, and Bank of America are involved; Jio Financial Services managing director and chief executive Hitesh Sethia described the plans.
- What
- Bank of America is expected to invest ₹18,268 crore in Jio Credit for a stake of slightly less than 50%, after which Jio Credit will reassess its strategy and products.
- When
- The investment is expected by December 2026, once the required regulatory approvals are received; the announcement was published on September 13, 2026.
- Where
- Jio Credit operates in India and currently has a distribution presence in 18 Indian cities.
- Why
- The capital is intended to support faster growth in assets under management, while the partnership is also expected to improve risk management and institutional resilience.
- Planned investment
- ₹18,268 crore from Bank of America
- Expected timing
- By December 2026, subject to regulatory approvals
- Proposed stake
- Slightly less than 50% of Jio Credit
- Current assets under management
- Approximately ₹30,000 crore
- Potential growth runway
- Up to approximately ₹1.5 lakh crore in assets under management
- Board representation
- Two Bank of America seats, two Jio Financial Services seats, and four independent directors
- Distribution plan
- Deepen presence in up to 20 Indian cities