Jio Financial Services and BlackRock to form a joint venture.

Jio Financial Services, an Indian financial services company, and BlackRock, a private equity firm, agreed to form a joint venture for setting up the wealth management and broking business. Financial terms were not disclosed. This joint venture further strengthens Jio Financial’s relationship with BlackRock, with whom the Company had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India.