As per reports mentioning people with knowhow on the development, Mukesh Ambani led Reliance Jio Infocomm is set to offer mutual funds and other financial products and services via its digital payments interface JioMoney.
"Reliance Jio has been working on rolling out financial services for a few months now. We expect a launch next year," a senior personnel of a financial services company privy of Reliance Jio plans told the publication. Confirming its new venture, the company's official on anonymity said that Jio for some quarters now has been engaged in beta testing its financial services offerings among its employees.
"Reliance Jio has been recruiting for its mutual fund segment. The emphasis is on digital-savvy candidates with sound financial knowledge, Mint cited a senior executive of an executive search firm as mentioning.
At the same time, CEO at an AMC firm said to the publication company that formal discussion for distributing mutual funds have not been conducted.
As of now, JioMoney's range of services includes digital payments, phone recharges, donation etc.