Mutual Funds Sahi Hai!
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Jio Finance (JFL), the NBFC arm of Jio Financial Services, has introduced fully digital Loan Against Securities (LAS) for its customers. The LAS offering from JFL is a secured lending product that allows customers to leverage their investments, such as shares and mutual funds, to avail loans at competitive interest rates, all within just ten minutes through a completely digital process.
Available through the JioFinance app, a one-stop destination for seamless and digital-first f inancial services, LAS – comprising Loan Against Shares and Loan Against Mutual Funds – is designed to meet the financial needs of customers, without requiring them to sell their securities. Customers can avail loans up to Rs. 1 crore with interest rates starting at 9.99%, tailored to their individual risk profile. These loans are for a maximum tenure of up to three years, with no foreclosure charges. By choosing LAS on the JioFinance app, customers gain convenient access to short-term funds, while keeping their long-term investment growth on track.
“The launch of Loan Against Securities is part of our comprehensive digital strategy aimed at transforming the way customers access and interact with financial services. With a strong focus on innovation and user experience, this launch is a significant step in our mission to make financial services more accessible, efficient, and customer-centric,” said Kusal Roy, Managing Director and CEO, Jio Finance.
The customers can avail loans of up to Rs 1 crore in just 10 minutes through the JioFinance App, with interest rates starting at 9.99%, tailored to their individual risk profiles. These loans are for a maximum tenure of up to three years, with no foreclosure charges. By choosing LAS on the JioFinance app, customers gain convenient access to short-term funds, while keeping their long-term investment growth on track.
Kusal Roy, managing director and CEO, Jio Finance, said, “The launch of loan against securities is part of our comprehensive digital strategy aimed at transforming the way customers access and interact with financial services. With a strong focus on innovation and user experience, this launch is a significant step in our mission to make financial services more accessible, efficient, and customer-centric.”
Jio Financial Services (JFSL) is a core investment company (CIC), registered with the Reserve Bank of India. It is a new-age institution, which operates a full-stack financial services business. Through the JioFinance app, customers can access a wide range of services such as loans, savings accounts, UPI payments, recharges, digital insurance, and financial management tools.
The company’s consolidated net profit increased marginally to Rs 294.78 crore in Q3 FY25, up 0.3% as compared with Rs 293.82 crore in Q3 FY24. Total income increased 5.7% YoY to Rs 507.97 crore in Q3 FY25.
IT shares declined after advancing in the past trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex, declined 246.16 points or 0.31% to 77,368.30. The Nifty 50 index fell 62.40 points or 0.26% to 23,529.55.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.29% and the S&P BSE Small-Cap index added 0.55%.
The market breadth was weak. On the BSE, 2,215 shares rose and 1,308 shares fell. A total of 183 shares were unchanged.
Buzing index:
The Nifty IT index declined 1.33% to 37,049.50. The index jumped 0.57% in the past trading session.
Wipro (down 1.98%), Infosys (down 1.78%), LTIMindtree (down 1.67%), HCL Technologies (down 1.15%), Tata Consultancy Services (down 1.13%), Mphasis (down 1.01%), Tech Mahindra (down 0.74%) and Persistent Systems (down 0.53%) declined.
Stocks in Spotlight:
BEML rallied 7.10% after the company announced that it has secured a metro car supply and maintenance contract from Bengaluru Metro Rail Corporation (BMRCL) worth Rs 405 crore.
Jio Financial Services rose 0.97%. The company has subscribed to 8.5 crore equity shares of Jio Payments Bank for Rs 85 crore. This investment is made to fund the business operations of Jio Payments Bank. Post this investment, the company’s holding in Jio Payments Bank will increase from 82.17% to 85.04%. Additionally, the company has acquired 1.73 crore equity shares of its subsidiary Jio Finance for Rs 1,000.24 crore. Jio Finance will utilize the proceeds to fund its business operations.
IndusInd Bank shares are banned from F&O trading on 28 March 2025.
Stocks to Watch:
Zaggle Prepaid Ocean Services’ board approved the acquisition of a 45.33% stake in Effiasoft from existing shareholders Koushik Shee and Akula Krishna Rao for Rs 36.72 crore. The Board also considered the proposal for the acquisition of an additional 5.67% stake in Effiasoft from Koushik Shee and Akula Krishna Rao for Rs 4.59 crore.
Sandhar Technologies has executeed a Share Purchase Agreement with South Korea-based Jinyoung Electro-Mechanics Co. for the sale of its entire stake in the joint venture, Jinyoung Sandhar Mechatronics (JSM). The decision to exit the joint venture aligns with the company’s strategic objective of streamlining its business operations and concentrating on its core competencies.
Piramal Enterprises’ board approved the issuance of non-convertible debentures up to Rs 100 crore (base issue size), along with a green shoe option to retain oversubscription of up to Rs 200 crore, aggregating the total issue size to Rs 300 crore, on a private placement basis.
Jio Financial Services has subscribed to 8.5 crore equity shares of Jio Payments Bank for Rs 85 crore. This investment is made to fund the business operations of Jio Payments Bank. Post this investment, the company’s holding in Jio Payments Bank will increase from 82.17% to 85.04%. Additionally, the company has acquired 1.73 crore equity shares of its subsidiary Jio Finance for Rs 1,000.24 crore. Jio Finance will utilize the proceeds to fund its business operations.
DCM Shriram’s board approved the proposal for setting up 12 TPD integrated Compressed Biogas (CBG) plant at Ajbapur Unit of the Company, with an investment of Rs. 131.30 crore. CBG is a value add to the byproduct of Sugar Process. It is an environmentally friendly renewable fuel that helps in reducing the greenhouse gas emissions and lower dependence on fossil fuels.
Aditya Birla Fashion and Retail (ABFRL) informed that The National Company Law Tribunal (NCLT) has approved the Scheme of Arrangement among Aditya Birla Fashion and Retail, Aditya Birla Lifestyle Brands, and their respective shareholders and creditors.
Jindal Steel & Power has been declared the successful bidder for the Saradhapur Jalatap East coal block. It has signed the agreement for the Saradhapur Jalatap East coal block. This is a partially explored block with estimated geological resources of 3,257 million tonnes.