Bank of America to Invest $1.9 Billion in Which Jio Financial Subsidiary? | Current Affairs
Bank of America has agreed to invest about $1.9 billion for up to a 49.9% stake in which Jio Financial Services subsidiary?
The answer is Jio Credit Limited, the lending arm of Jio Financial Services. Bank of America will initially acquire a 26.5% stake, with the potential to increase its holding to 49.9% through warrants. The total investment commitment is approximately ₹18,268 crore ($1.9 billion)
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