Reliance unveiled JioFinance app: It will provide services like digital banking, UPI transactions, bill payments

Jio Financial Services Limited has unveiled the beta version of its JioFinance app. On the app, the user will get services like digital banking, UPI transactions, bill payments and insurance advisory. There will also be a facility to take loan on mutual funds. In the coming time, the company will expand its loan services and extend it to home loans. The company is describing it as a state-of-the-art platform that will revolutionize daily finance and digital banking. The company will improve the app based on user input. Four types of services will be available on Jio Finance app Share of Jio Financial gave a return of 54% in 6 months Share of Jio Financial Service closed today with a decline of 0.34% at Rs 348. At the same time, in the last 1 month, the stock has given a negative return of 8%. Whereas, in the last 6 months, the stock of Jio Financial has given a positive return of 54%. Net profit of Jio Financial in the fourth quarter was ₹ 310 crore Jio Financial Net profit in the fourth quarter of financial year 2024 was ₹ 310 crore, up 6% year-on-year. At the same time, the net interest income (NII) was Rs 280 crore. Total interest income was Rs 418 crore and total revenue was Rs 418 crore. Earlier, in the third quarter (October-December), the net profit of Jio Financial was Rs 293 crore. At the same time, in the third quarter (Q3FY24), the net interest income was Rs 269 crore. Total interest income was Rs 414 crore and total revenue was Rs 413 crore. JFS shares were listed on 21 August JFS was listed on 21 August 2023. It was listed at Rs 265 on BSE and Rs 262 on NSE. On July 19, shareholders who held shares of Reliance Industries received shares of Jio Financial in a ratio of 1:1. For example, if an investor had 100 shares of RIL, he was given 100 shares of JFS. The company was separated from RIL in July Reliance’s financial services business was separated from its parent company Reliance Industries Limited (RIL) in July 2023. After the demerger, the share price of Jio Financial was fixed at Rs 261.85 under the price discovery mechanism.

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