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Jio Fin tweaks plans after RBI move on unsecured lending
Mint Mumbai
|January 17, 2024
The company will focus more on secured lending; including home loans and device leasing
Jio Financial Services Ltd (JFSL) is tweaking its lending strategy, following the Reserve Bank of India's (RBI) recent restrictions on unsecured consumer loans, the company said in its post-earnings call with analysts on Monday evening.
The Mukesh Ambani-promoted non-banking finance company (NBFC), which had earlier planned to concentrate on unsecured lending, has now decided to shift its focus to secured loans, including leasing. According to analysts, the company said in its earnings call that it has set up a 100% leasing subsidiary to undertake lease operations.
"Large opportunity in the secured lending space. Noticeable market reaction vis-à-vis unsecured lending leading to calibrated approach towards unsecured products," the company said in its investor presentation.
Esta historia es de la edición January 17, 2024 de Mint Mumbai.
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