Shafaqna English- In a deal worth $1.92 billion, Bank of America will purchase up to 49.9% of the shares in the non-bank credit arm of Jio Financial Services. This investment forms part of the American bank’s broader strategy to expand its operations within India’s burgeoning financial marketplace.
The aforementioned deal is part of an accelerating trend of foreign capital injection into India’s banking system and non-bank credit institutions. These entities have emerged as attractive destinations for international investors, thanks to robust demand for credit facilities and consistently low default rates.
Source: Reuters