Non-bank lender Jio Credit's Rs 18,268 crore fund raise from Bank of America (BoFA) will get regulatory nods by December this year, a top official at parent Jio Financial Services (JFS) has said.
Once the capital comes in, the entity will re-evaluate its business strategies and also product plans to accelerate growth in assets under management (AUM), the official said, adding that BoFA is "aligned" with the need for the book to grow fast.
