The much talked about consumer durables financing and unsecured loans will also be scaled up but at a later stage. Ambani’s Jio Financial Services, dubbed as the ‘fourth engine’ after oil, telecom, and retail, aims to leverage its established consumer-facing retail and telecom sectors. This is probably the reason why Jio is first focussing on secured products followed by consumer durables and unsecured loans. The unsecured market is already heating up with RBI increasing the risk weights on such loans. “Home loans and consumer durable and unsecured loans are in the pipeline,” states the company.

Source: India Today January 17, 2024 02:25 UTC