RBI approves Isha Ambani, others as directors of Jio Financial Services

Jio Financial Services on Thursday informed the exchanges that the Reserve Bank of India (RBI) has granted approval for the appointment of Isha Ambani, Anshuman Thakur, and Hitesh Sethia as Directors of the company.

“Please refer to your letter/email dated July 28, 2023, on the captioned subject and subsequent correspondence. In this regard, we grant prior approval for the appointment of Ms Isha Mukesh Ambani, Shri Anshuman Thakur, and Shri Hitesh Kumar Sethia as Directors of the Company,” the letter from the central bank said.

Further, the central bank stated that this approval is valid only for six months from the date of this letter.

In case the company fails to give effect to the proposal within this timeframe, it will have to apply again with reasons for having failed to effect the change on the earlier occasion, the letter added.

In July 2023, the company had informed the exchanges about the appointment of the three directors, which was subject to approval from the central bank.

Earlier in October 2023, the financial arm of Reliance Industries declared its quarterly results, with the company recording 101.30 per cent growth in profitability to Rs 668.18 crore in the quarter ended September 30, from Rs 331.92 crore in Q1FY24, on the back of healthy growth in revenue.