BofA to pump ₹18,268 cr in Jio Credit; stake may go up to 49.9%
Bank of America (BofA) is investing ₹18,268 crores in Jio Credit, a subsidiary of Reliance Industries. This significant investment will give BofA a 26.5% stake in Jio Credit, with the potential to increase to 49.9% if certain warrants are exercised. This deal is significant for the Indian economy as it marks a major foreign investment in the country's digital payments sector, potentially boosting economic growth and development in the industry.
Read the source report: The Hindu
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