Jio Financial Services received the Reserve Bank of India’s (RBI) nod for the appointment of Isha Ambani, Anshuman Thakur, and Hitesh Sethia as Directors, according to a disclosure to the exchanges on Thursday. The central bank’s letter, responding to a submission dated July 28, 2023, granted prior approval for the appointments.
The company, which had initially informed the exchanges about the proposed appointments in July 2023, was awaiting the regulatory green light. The recent approval paves the way for the trio to assume their roles as Directors. However, the RBI stipulates that if the company fails to implement the proposal within the specified timeframe, it must reapply, providing reasons for the earlier lapse.
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Jio Financial Services, a financial arm of Reliance Industries, reported robust quarterly results in October 2023. The company showcased a noteworthy 101.30% growth in profitability, reaching Rs 668.18 crore in the quarter ending September 30. This surge is attributed to substantial revenue growth, marking a positive trajectory for the company in Q1FY24 compared to the preceding quarter’s Rs 331.92 crore.
