JioBlackRock Broking Secures SEBI Nod to Transform Indian Investment Landscape

JioBlackRock Broking, a subsidiary of Jio BlackRock Investment Advisers, has been granted approval by the Securities and Exchange Board of India (SEBI) to operate as a brokerage firm, according to a corporate statement released on Friday. The firm aims to provide affordable, transparent, and technologically driven services for investors in India.

The parent entity, JioBlackRock Investment Advisers, results from a 50:50 partnership between Jio Financial Services Limited and BlackRock Inc. This approval follows recent regulatory permissions given to Jio BlackRock Asset Management and Jio BlackRock Investment Advisers, allowing the joint venture to deliver comprehensive investment solutions across India.

Marc Pilgrem, CEO of Jio BlackRock Investment Advisers, stated the SEBI approval is a milestone, advancing India's shift from traditional saving patterns to a more investment-oriented culture. With brokerage operations now in place, the company aims to cater to both self-directed investors and those seeking professional advice.

Hitesh Sethia, CEO of Jio Financial Services Limited, remarked on the strategic expansion, noting it aligns with efforts to democratize investments through innovative, digital-first solutions. Rachel Lord, Head of International at BlackRock, emphasized the venture's mission to blend technology and market access for millions in India.

(With inputs from agencies.)