“This innovative offering will make Savings Pro India’s first savings account that auto-invests idle cash in overnight mutual funds for better returns,” Sethia said. Jio Payments Bank currently serves over 25 lakh customers with a deposit base exceeding Rs 358 crore as of June.
Key Takeaways from Jio Financial Services AGM
– Strategic partnerships to expand portfolio
Sethia highlighted that JFS will continue to pursue strategic tie-ups to diversify its offerings. The company has already partnered with global brands like BlackRock for asset management and Allianz for insurance, and is exploring additional collaborations to strengthen its portfolio.
The payments bank is also diversifying revenue streams through Aadhaar-enabled payments, domestic money transfers, B2B UPI services, and has been empanelled by the National Highways Authority of India to manage toll processing at five major highways.
– Strong growth in lending and digital services
JFS’ lending arm, Jio Credit, is now active in 11 cities, managing Rs 11,600 crore in assets as of June, including home loans, loans against property, and corporate loans. The company’s AUM surged from Rs 217 crore in Q1 FY25 to Rs 11,665 crore in Q1 FY26, with a profit after tax of Rs 1,613 crore in FY25.
The company has also rolled out a ‘Single Customer View’ platform, offering a unified perspective of customer activity, while its JioFinance app now sees over 80 lakh monthly active users, with services such as tax filing and planning already live.
– Digital-first and AI-driven strategy
JFS Chairman KV Kamath said the company is leveraging artificial intelligence and advanced analytics to transform how it assesses risk, offers credit, and provides insurance, while expanding investment access.
“With AI and data analytics, we are on the verge of a fundamental shift in how we assess risk, offer credit, provide insurance, and democratize investment opportunities,” Kamath said.
The AGM highlighted JFS’ focus on sustainable growth under strict governance, expanding its presence in insurance, wealth management, and securities broking. The company’s first New Fund Offering with BlackRock raised over Rs 17,876 crore, signaling strong investor interest.
