Jio BlackRock Receives Approval to Launch Mutual Fund Business

Jio BlackRock Asset Management, a 50:50 joint venture between Mukesh Ambani-led Reliance Group’s Jio Financial Services and U.S.-based asset management giant BlackRock, has received regulatory approval from India’s market regulator to begin its mutual fund operations. The venture aims to leverage a "digital first" strategy to offer a wide range of investment products to both retail and institutional investors in India.