Jio Credit Expects Rs 18k Cr BoFA Deal Approval by December

Jio Credit expects regulatory approvals from the RBI and Competition Commission of India for its Rs 18,268 crore fund raise from Bank of America by December. The capital infusion will arrive in tranches over 18 months, enabling Jio Credit to re-evaluate its business strategy and product plans. The company anticipates its assets under management could grow five times from the current Rs 30,000 crore.