Bank of America bets $220B on Jio Credit, targeting India's fast‑growing loan market
Bank of America will buy up to 49.9% of Jio Credit for up to ₹18,268 crore ($220 billion), starting with a 26.5% equity stake. The deal gives BofA a foothold in India's booming NBFC lending space, pairing Jio’s massive customer base with its global banking expertise. Regulatory approval pending.