Reliance to demerge fin services arm and list Jio Financial Services on exchanges, RIL shareholders to get 1:1 shares
On Friday 21 October, Reliance Industries Limited (RIL) announced that it would soon demerge its financial services business to form a new company Jio financial services limited (JFSL). Reliance Strategic Investments Limited (RSIL) is a wholly-owned subsidiary of Reliance Industries Limited (RIL) which currently carries out its business of providing loans to merchants and consumers. … Read more