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New Delhi [India], July 12 (ANI): <keyword id="20043730" type="General" weightage="20" keywordseo="Jio-Financial-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Financial Services" meta.hostid="261" meta.entityid="Jio Financial Services">Jio Financial Services</keyword> has received the nod from the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) to convert into a <keyword id="20871282" type="General" weightage="20" keywordseo="Core-Investment-Company" source="keywords">Core Investment Company</keyword> (CIC) from a Non-Banking Financial Company (<keyword id="19938496" type="General" weightage="20" keywordseo="NBFC" source="keywords">NBFC</keyword>). The company in an official statement on Thursday stated that "Further to the disclosure dated November 21, 2023, the Company has today received from the Reserve Bank of India approval for conversion of the Company from Non-Banking Financial Company to Core <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">Investment</keyword> Company." According to the Reserve Bank of India, a CIC is a specialised NBFC with an minimum asset size of Rs 100 crore. The RBI's circular dated December 20, 2016 stated that, a CIC's main business is the acquisition of shares and securities with certain conditions. One of the conditions stipulated by the central bank is that the CIC holds not less than 90 percent of its net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies. The transition from an NBFC to a CIC involves several key changes in the company's operational framework. As a Core Investment Company, <keyword id="2003276" type="General" weightage="20" keywordseo="Jio" source="Orion">Jio</keyword> Financial Services will primarily focus on investments in and the management of its subsidiaries companies. The transformation to a CIC structure would enable Jio Financial Services to delineate the financials and operations of each subsidiary, to provide better value discovery for investors. Unlike typical NBFCs, CICs are non-deposit taking financial companies that have their assets predominantly invested in the equity shares, preference shares, or debt instruments of their group companies. As a CIC, the company gains greater operational flexibility. It can now focus on core investment activities without engaging in other financial services. The CICs can explore different sectors and diversify their investment portfolio. This flexibility allows them to adapt to changing market conditions. The shares of the company also surged more than 1.5 per cent during the opening session on Friday, and stands at Rs 353.25 at the time of filing this report. (ANI)

Jio Financials gets RBI nod to become Core Investment Company

Mumbai (Maharashtra) [India], July 26 (ANI): <keyword id="15323576" type="General" weightage="20" keywordseo="jio-financial-services" source="Orion">Jio Financial Services</keyword> Limited (JFS) and BlackRock [NYSE: BLK] on Wednesday announced an agreement to form <keyword id="18155266" type="General" weightage="80" keywordseo="jio-blackrock" source="Orion">Jio BlackRock</keyword>, a 50:50 joint venture that combines the respective strengths and trusted brands of BlackRock and JFS to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India. According to a press release, Jio BlackRock brings BlackRock's deep expertise and talent in investment management, risk management, product excellence, and access to technology, operations, scale, and intellectual capital around markets, while JFS contributes local market knowledge, digital infrastructure capabilities, and robust execution capabilities. "Together, the partnership will introduce a new player to the Indian market with a unique combination of scope, scale, and resources. JFS and BlackRock are targeting an initial investment of US$150 million each in the joint venture", it added <keyword id="4992253" type="General" weightage="50" keywordseo="rachel-lord" source="Orion">Rachel Lord</keyword>, Chair and Head of APAC, BlackRock said, "India represents an enormously important opportunity. The convergence of rising affluence, favorable demographics, and digital transformation across industries is reshaping the market in incredible ways. We are very excited to be partnering with JFS to revolutionize India's asset management industry and transform financial futures. Jio BlackRock will place the combined strength and scale of both of our companies in the hands of millions of investors in India." Speaking on this transaction, Hitesh Sethia, President and CEO, JFS said, "This is an exciting partnership between JFS and BlackRock, one of the largest and most respected asset management companies globally. The partnership will leverage BlackRock's deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive the digital delivery of products. Jio BlackRock will be a truly transformational, customer-centric, and digital-first enterprise with the vision to democratize access to financial investment solutions and deliver financial well-being to the doorstep of every Indian." The joint venture will launch operations post-receipt of regulatory and statutory approvals. The company will have its own management team. BlackRock's purpose is to help more and more people experience financial well-being, the release stated. "As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock", it further stated. Further, the release said, "<keyword id="18155200" type="General" weightage="20" keywordseo="blackrock-india" source="Orion">BlackRock India</keyword> is at the very heart of our global operating platform, enabling us to innovate our business to benefit clients. Over the past 17 years, our India platform has grown to over 2,400 employees across offices in Mumbai, Gurgaon, and Bangalore powering our global network by employing talents across investments, alternatives, operations, analytics and modelling, and corporate functions." Jio Financial Services Limited (JFS) through its operating subsidiaries and joint ventures will offer a broad range of financial services solutions addressing the needs of both consumers and merchants. JFS will use technology as a key enabler to reach customers directly, it added. (ANI)

Jio Financial services and BlackRock to form India asset management joint venture

<keyword id="6378916" type="General" weightage="100" keywordseo="cement" source="Orion">Cement</keyword> companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after a increase of about Rs 3-4/bag last month, said <keyword id="141615" type="General" weightage="80" keywordseo="emkay-global" source="Orion">Emkay Global</keyword> Financial Services Ltd. Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said. "Cement companies are attempting price hikes of Rs10-30/bag across regions in November 22. Absorption of these price hikes will be uncovered over the next few days," said Emkay Global. Industry volumes likely to have declined by a high single-digit YoY and a low double-digit MoM, in October 22, owing to a high base, as the festive season was spread across October-November last year. According to the report, a delayed exit of monsoons and labour shortage owing to festive holidays impacted demand in October 22. The demand is expected to improve in upcoming weeks, with all major festivals ending and given the onset of a busy construction season. The cost pressure is expected to ease in coming quarters for the industry players and the industry margins are expected to bottom out in Q2, with peaking of costs, higher exit of cement prices and pick-up in construction activities in coming quarters, said Emkay Global. The international petcoke prices are down by about 30 per cent from the peak of $195/tonne. Further the dip in the fuel prices are expected to provide cost savings of at least Rs 150-200/tonne from Q3FY23, Emkay Global said. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Cement companies plan price hike of ₹10-30 per bag

Automobile major <keyword id="130549" type="General" weightage="50" keywordseo="tata-motors-ltd" source="Orion">Tata Motors Ltd</keyword> on Saturday said it will be increasing the prices of its passenger vehicles effective from November 7. The passenger car segment is logging good monthly growth for the industry players. While <keyword id="42747" type="General" weightage="100" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> did not specify the model wise price hike, it said the weighted average increase will be 0.9 per cent depending on the variant and the model. "The company has been absorbing a significant portion of the increa sed costs but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike," Tata Motors said. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Tata Motors to hike prices of passenger vehicles from November 7

The volume of password attacks has risen to an estimated 921 attacks every second globally -- a 74 per cent increase in just one year, a <keyword id="10387" type="General" weightage="100" keywordseo="microsoft" source="Orion">Microsoft</keyword> report has said. From July 2021 to June 2022, the tech giant's digital defence teams blocked 34.7 billion identity threats and 37 billion email threats. According to the '<keyword id="12280146" type="General" weightage="50" keywordseo="digital-defence-report" source="Orion">Digital Defence Report</keyword> 2022', attackers are adapting and finding new ways to implement their techniques, thereby increasing the complexity of how and where they host campaign operation infrastructure. Attacks against remote management devices are on the rise, with more than 100 million attacks observed in May 2022 -- a five-fold increase in the past year. "To lower their overhead and boost the appearance of legitimacy, attackers are compromising business networks and devices to host phishing campaigns, malware, or even use their computing power to mine cryptocurrency," the findings showed. Human operated ransomware is most prevalent, as one-third of targets are successfully compromised by criminals using these attacks and 5 per cent of those are ransomed. About 93 per cent of Microsoft's ransomware incident response engagements revealed insufficient controls on privilege access and lateral movement. The most effective defence against ransomware includes multi-factor authentication, frequent security patches, and <keyword id="10549538" type="General" weightage="50" keywordseo="zero-trust" source="Orion">Zero Trust</keyword> principles across network architecture, the report noted. Microsoft said it synthesises 43 trillion signals daily, using sophisticated data analytics and AI algorithms to understand and protect against digital threats and criminal cyber activity. "Nation state actors are launching increasingly sophisticated cyberattacks designed to evade detection and further their strategic priorities. Cybercriminals have begun using advancements in automation, cloud infrastructure, and remote access technologies to attack a wider set of targets," said the company. To date, Microsoft removed more than 10,000 domains used by cybercriminals and 600 used by nation state actors. "Foreign actors are using highly effective techniques -- often mirroring cyberattacks to enable propaganda influence to erode trust, impact public opinion, and increase polarisation -- domestically and internationally," the report cautioned. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Password attacks rise to 921 every second globally: Microsoft

<ul class="summary-list"><li><keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword> announced it would invest $5.7 billion in <keyword id="6354504" type="DEFINITION" weightage="60" keywordseo="reliance-jio">Reliance Jio</keyword>, <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s popular mobile internet service.</li><li>The multi-billion-dollar stake makes Facebook the largest minority shareholder in the internet service, which is a part of Reliance Industries Limited.</li><li>In the past three years, <keyword id="2003276" type="PERSON" weightage="60" keywordseo="Jio">Jio</keyword> has brought hundreds of millions of people in the country online, making the country a vital market after India "overtook the US last year to become the world's second-largest smartphone market after China by unit shipments," The Financial Times reported.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Facebook announced Tuesday that it would invest $5.7 billion in Reliance Jio, India's popular mobile internet service that brought hundreds of millions in the country online in three years.The multi-billion-dollar stake makes Facebook the largest minority shareholder in the internet service, which is a part of Reliance Industries Limited."This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country," Facebook said in a statement. "In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways."The Financial Times <a href="https://www.ft.com/content/a1ca0569-7ef7-49c8-b88e-72b792eefc62">first reported</a> that Facebook was eyeing the investment back in late March, as Reliance's burden of debt grew after expanding Jio. The Facebook-Jio deal is part of an effort aimed at relieving the company of its debt by March of next year, according to The Financial Times report.Facebook said one focus of the collaboration will be to create "new ways for people and businesses to operate more effectively in the growing digital economy," like supplementing Jio's small business initiative with the "power of WhatsApp" to help businesses and shop connect on a larger scale."They account for the majority of jobs in the country, and form the heart and soul of rural and urban communities alike," the statement read. "In the face of the coronavirus, it is important that we both combat this global pandemic now, and lay the groundwork to help people and businesses in the years to come."Read the original article on <a href="https://www.businessinsider.com/facebook-invests-in-jio-india-mobile-internet-service-2020-4">Business Insider</a>

You Searched For "jio financial services" and got 6 results

Jio Financials gets RBI nod to become Core Investment Company

ANI

Jio Financial services and BlackRock to form India asset management joint venture

ANI

Cement companies plan price hike of ₹10-30 per bag

IANS

Tata Motors to hike prices of passenger vehicles from November 7

IANS

Password attacks rise to 921 every second globally: Microsoft

IANS

Facebook to invest $5.7 billion in Reliance Jio, India's popular mobile internet service

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