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VERIFIEDET Finance·neutral
Bank of America to acquire 49.9% in Jio Credit in potential Rs 18,268 crore deal
AI Summary
- ·Jio Financial Services and Bank of America have entered into a joint venture agreement.
- ·Bank of America plans to acquire up to 49.9% in Jio Credit, with an investment potentially reaching Rs 18,268 crore.
- ·Bank of America will initially hold a 26.5% stake in the NBFC, pending regulatory approvals.