Jio Financial Services, a subsidiary of Reliance Industries Limited, on November 16 announced that the Reserve Bank of India (RBI) has approved the appointment of three new directors to its board: Isha Ambani, Anshuman Thakur, and Hitesh Kumar Sethia.
The appointments are effective immediately.
“We wish to inform you that RBI vide letter dated November 15, 2023, has accorded its approval for the appointment of Isha Mukesh Ambani, Anshuman Thakur and Hitesh Kumar Sethia as directors of the company,” Jio Financials said in an exchange filing.
The approval for the appointment of the three directors is valid for six months from the date of approval.
In case the company fails to give effect to the proposal within the time frame, it would have to apply again citing the reason for not carrying out earlier the proposed changes, the RBI letter said.
Shares of Jio Financial Services were trading 0.6 percent higher from the previous close at 225.60 on BSE.
For the September quarter, the company reported a 101 percent increase in consolidated PAT at Rs 668 crore, which also included dividend income of Rs 371 crore (Rs 154 crore in associates).
Consolidated total assets were at Rs 1,19,598 crore on Sept. 30, 2023.
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