Bank of America will invest up to $1.9 billion in Jio Credit, a Jio Financial Services subsidiary, acquiring a 49.9% stake. The deal values the NBFC's assets under management at $3.2 billion. The partnership aims to combine Jio's digital reach with BofA's global expertise, with equal board representation.
Bank of America to acquire up to 49.9% stake in Jio Credit
Source: CNBC TV18