Reliance has made significant strides in telecom, fashion retail, electronics, and food industries, and is now poised to enter the financial services sector. Jio Financial Services Ltd. recently obtained approval from the Reserve Bank of India for the appointment of Isha Ambani, Anshuman Thakur, and Hitesh Kumar Sethia as directors of the company. The regulatory statement on November 15 urged the company to update its profile in XBRL returns to reflect the change in management.
JIO FINANCIAL SERVICES: RBI ACCORDED APPROVAL FOR APPOINTMENT OF ISHA MUKESH AMBANI, ANSHUMAN THAKUR AND HITESH KUMAR SETHIA AS DIRECTORS
— RedboxGlobal India (@REDBOXINDIA) November 16, 2023
Last month, the financial services arm of Mukesh Ambani’s conglomerate unveiled plans to venture into lending, insurance broking, payments banks, and payment solutions. Shareholders of Reliance Industries Ltd. had previously sanctioned the appointment of Isha Ambani, Akash Ambani, and Anant Ambani to the board of directors of the flagship company.
Who are Anshuman Thakur and Hitesh Kumar Sethia?
Anshuman Thakur, a graduate in Economics and an MBA from IIM-Ahmedabad, brings 24 years of experience in corporate strategy and investment banking across diverse industries. Currently serving as the Senior Vice President at Jio Platforms Limited, he oversees strategy and planning functions. Thakur joined the Reliance group in 2014, having previously worked with prominent organizations such as Morgan Stanley, Arthur Andersen, and Ernst & Young.
Hitesh Sethia, a chartered accountant and Harvard Business School alumnus, boasts over two decades of experience in financial services across Europe, Asia (India & Greater China), and North America. His extensive career at ICICI Bank involved roles in strategy formulation, market development, compliance, risk management, and team building in various countries, including Canada, Germany, the UK, and Hong Kong.
About Jio Financial Services
According to information available on the company website, Jio Financial Services Limited has honed its focus on crucial customer groups, specifically targeting individuals and small businesses in urban, semi-urban, and rural areas across India. The company aims to bridge the gap by providing accessible and transparent financial products tailored to meet the swiftly evolving financial requirements of the Indian populace.
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