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Tag: Reliance Jio

  • India’s richest man wants to turn every TV into a PC | TechCrunch

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    Jio Platforms, the digital arm of Indian conglomerate Reliance Industries, has launched a virtual desktop service for set-top box users. This means that India’s richest man, Reliance’s chairman Mukesh Ambani, hopes to turn millions of TVs in the world’s most populous country into PCs.

    Called JioPC, the service offers a cloud-based PC experience through Jio’s set-top box, which comes bundled for free with the telco’s home broadband service or can be purchased separately for ₹5,499 ($64). Currently in free trial and available via waitlist, users can access the virtual desktop on their TV by plugging in a keyboard and mouse once they receive an invite and set up their account.

    At present, the service has some limitations, including no support for external peripherals, such as cameras and printers. Similarly, it supports open source LibreOffice, which is pre-installed. To use Microsoft Office apps, users need to access them via the available browser.

    That said, Ambani’s move with JioPC looks promising — at least on paper.

    Tarun Pathak, a research director at Counterpoint, told TechCrunch that JioPC is a very effective way for the Mumbai-headquartered company to increase its user base, which already has over 488 million users.

    Around 70% of Indian households have a TV, but only 15% of them own a PC, per Pathak. But Jio Platforms could have its hands full with marketing and explanations. “You need to convince people that you can still use a PC on your TV using the set-top box,” he stated.

    India’s active pay-TV set-top box user base stands at nearly 57 million, per government data. However, the traditional direct-to-home (DTH) TV market is shrinking as more consumers shift to internet-based services. As of March, the active DTH subscriber base had declined by 8% year-over-year, the data shows.

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    Prabhu Ram, vice president of the Industry Research Group (IRG) at CyberMedia Research (CMR), said with JioPC, Jio could onboard new set-top box users from underpenetrated rural and low-income segments.

    “While its potential reach is broad, its success will depend on execution — especially in addressing connectivity gaps and digital literacy — and on its ability to scale beyond early adopters to effectively serve underserved communities,” he noted.

    In Q1, India’s overall PC market experienced over 8% year-over-year growth in shipments, reaching 3.3 million units — marking the seventh consecutive quarter of growth, per IDC. However, PC penetration in the country remains relatively low, lagging behind key markets, including the U.S. and China, mainly due to limited disposable income and the widespread use of smartphones as primary computing devices.

    Pathak stated that for Jio to reach potential PC buyers with JioPC, it would require partnerships with several app developers and productivity solution providers and ensure it has enough productivity apps to make the service valuable for consumers.

    Companies including Microsoft and many other cloud providers have offered virtual desktop services targeting enterprise customers for some time. However, Jio’s move represents the first serious consumer-oriented move, Ram said.

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  • Jio Financial unit to buy $4.32B of telecom gear from Reliance Retail | TechCrunch

    Jio Financial unit to buy $4.32B of telecom gear from Reliance Retail | TechCrunch

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    Jio Leasing Services Ltd (JLSL), a subsidiary of Jio Financial Services, plans to buy customer premises equipment, devices and telecom equipment worth $4.32 billion from Reliance Retail over the next two financial years, according to a postal ballot notice (PDF) sent to shareholders seeking approval of the deal.

    JLSL is entering the business of operating a Device-as-a-Service (DaaS) model — it will lease telecom devices along with associated services to customers of Reliance Jio Infocomm. Reliance Retail, valued at about $100 billion Reliance Industries in 2023, will sell the devices to JLSL at cost plus margin.

    The deal will be one of the largest equipment transactions in the Indian telecom sector. By shifting to a leasing model through JLSL, Jio aims to make it more affordable for customers to get access to the latest 5G devices and attract more subscribers to its network.

    The transaction will be spread over the financial years ending March 2025 and March 2026.

    Jio Financial Services was a little-known, non-bank financial subsidiary of Reliance Industries until the conglomerate demerged the unit and listed it last year. Reliance still owns more than 80% of the company.

    Jio Financial Services also plans to offer its payment aggregator and gateway services to Jio Platforms and Reliance Retail, according to the notice.

    The deal signifies Jio Financial Services’ growing interest in businesses beyond lending. Via the DaaS model, the company is planning to lease devices like laptops and its mobile hotspot AirFiber to businesses.

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  • ‘No ‘G’ in this world greater than Mata ji and Pita ji’: Mukesh Ambani reminds the importance of parents to students

    ‘No ‘G’ in this world greater than Mata ji and Pita ji’: Mukesh Ambani reminds the importance of parents to students

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    Mukesh Ambani, chairman of Reliance Industries, recently addressed graduating students at Pandit Deendayal Energy University Convocation and discussed the value of parents in children’s lives. 

    “Let me tell you something in your own lingo – the language of the youth. Nowadays, every youngster is excited about 4G and now 5G. But there is no ‘G’ in this world greater than Mata ji and Pita ji,” he said.

    “Today is your day. The arc lights are on you. But standing in the wings are your parents and elders… it’s a very special day for them too. They have waited eagerly to see you walk up to the stage and receive your graduation certificate. It has been their lifelong dream. Don’t ever forget the struggles they underwent and the sacrifices they made to bring you here. Their contribution to your success is immeasurable,” he added.

    India’s bright young minds from all over the country, according to Ambani, will help it grow from a $3 trillion economy to a $40 trillion economy by 2047, he said.

    Reliance Jio, owned by Mukesh Ambani, has successfully introduced 5G services in a number of cities in India.

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  • What is Jio Financial Services and why is it spooking Paytm’s stock?

    What is Jio Financial Services and why is it spooking Paytm’s stock?

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    Ever since Reliance Industries’ announcement of listing its financial services undertaking Jio Financial Services Limited on the stock markets last month, the investor interest in the firm has increased manifold.

    “With secular growth drivers, the Indian financial services sector is poised to undergo a digital transformation. The sector presents a large, under penetrated and growing addressable market, especially for retail and small-business focused product categories. JFSL and its subsidiaries will leverage the technology capability of Reliance and focus on digital delivery of financial products to democratise financial services access for 1.4 billion Indians,” said RIL in a stock exchange filing in October.

    “Reliance has been developing and fostering a vibrant digital led-financial services platform through various digital applications. Reliance has developed best in-class applications having high customer engagement metrics and differentiated value propositions in their respective categories. The current footprint touches more than 20 million consumers. JFS plans to launch consumer and merchant lending business based on proprietary data analytics to complement and supplement the traditional credit bureau-based underwriting. JFS will continue to evaluate organic growth, joint-venture partnerships as well as inorganic opportunities in insurance, asset management and digital broking segments,” RIL added.

    On Tuesday, Macquarie’s report on Jio Financial Services had spooked Paytm stock, diving it to its record low, as the global financial services group sees Jio Financial Services becoming India’s fifth largest financial services firm. With investors anticipating a huge disruption for the Noida-headquartered Paytm, the company’s shares fell 11 per cent on BSE to close trading at Rs 475 apiece.

    HDFC Bank, State Bank of India, ICICI Bank, and Axis Bank are the four top companies in the business. JFS has significant scope to expand its balance sheet. “Assuming 6.1 per cent stake in Reliance Industries Ltd realised over time, with a Rs 1 trillion net worth JFS could be the 5th largest financial services firm in the country,” said Suresh Ganapathy, Aditya Suresh, and Param Subramanian in the report.

    The Reliance firm can disrupt the payments business and become a threat to other fintech models, said the report.

    Jio Financial Services, Macquarie said, has articulated that it plans to launch a consumer and merchant lending business based on proprietary data analytics to complement and supplement the traditional credit bureau-based underwriting. Macquarie said the focus seems to be on consumer and merchant lending, which is the mainstay of NBFCs like Bajaj Finance and fintech firms like Paytm.

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  • Reliance Jio launches 5G in two more cities; users to get unlimited data

    Reliance Jio launches 5G in two more cities; users to get unlimited data

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    Reliance Jio has launched its 5G services in two more cities – Bengaluru and Hyderabad – from November 10. Starting today, Jio users in Bengaluru and Hyderabad will be invited to the Jio Welcome Offer to experience Unlimited Data at up to 1 Gbps+ speeds at no additional cost, the company said in a statement.

    Jio has already successfully Beta-launched its 5G services in six cities – Mumbai, Delhi, Kolkata, Chennai, Varanasi, and Nathdwara (Rajasthan).

    After launching 5G in Bengaluru and Hyderabad, Jio said that the launch in these two tech-centric cities will help realise the true potential of some of the latest technologies that will serve humanity and improve the quality of life of Indians.

    “Being a customer-obsessed organization, Jio is rolling out its advanced True-5G services in a phase-wise manner, to ensure the best customer experience,” the telecom service provider said.

    Jio, the largest telecom operator in terms of subscribers, said that its 5G services are already being experienced by lakhs of users across six cities, the response to which is extremely positive and reassuring. 

    “Customer insights and feedback is helping Jio build, what is, and will be, the most advanced 5G network globally,” it added.

    Jio said its users are experiencing speeds anywhere between 500 Mbps to 1 Gbps on their smartphones and are using very high quantities of data, seamlessly.

    The telecom firm attributed this achievement to the three-fold advantage that it said makes Jio the only true 5G network in India.

    The three-fold advantage is – stand-alone 5G architecture with an advanced 5G network with Zero dependency on a 4G network, the largest and best mix of 5G spectrum across 700 MHz, 3500 MHz, and 26 GHz bands, and carrier Aggregation that seamlessly combines 5G frequencies into a single robust “data highway” using an advanced technology called carrier aggregation.
     

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  • Reliance Industries appoints KV Kamath as independent director for 5 years

    Reliance Industries appoints KV Kamath as independent director for 5 years

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    Mukesh Ambani’s Reliance Industries’ has announced the appointment of K V Kamath as the Independent Director for a five-year term.

    In its filing, the company said, “The Board of Directors has, at its meeting held today, based on the recommendation of the human resources, nomination and remuneration committee considered and recommended to the shareholders for approval the appointment of Shri K. V. Kamath as an Independent Director of the Company for a term of 5 (five) consecutive years with effect from the date of assumption of office by Shri K. V. Kamath.”

    Kamath has also been appointed as Reliance Strategic Investment Limited’s Independent Director and Non-Executive Chairman (RSIL).

    The board of directors has approved the demerger plan for the financial services business, and RSIL will now be known as Jio Financial Services Limited (“JFSL”).

    In 1971, Kamath began his career with ICICI. Before returning to the ICICI as its managing director (MD) and CEO in 1996, he left the ICICI in 1988 to join the Asian Development Bank. He served as the MD and CEO of ICICI Bank following the company’s merger with that institution.

    Kamath had also served as chairman of Infosys. He was chosen to serve as the inaugural president of the New Development Bank, which was founded by the BRICS nations, in 2015. In 2020, he left that position.

    He currently serves as the National Bank for Financing Infrastructure and Development’s chairman (NaBFID). In September, Kamath predicted that India’s economy would reach $25 trillion in 25 years. 

    Also Read: Reliance Industries Q2 profit at Rs 13,656 crore; revenue up 34%

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  • RIL announces demerger of financial services undertaking, to list Jio Financial Services

    RIL announces demerger of financial services undertaking, to list Jio Financial Services

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    Reliance Industries Limited (RIL) will demerge its financial services undertaking and will create a separate entity, which will be named Jio Financial Services Limited (JFS), the company said on Friday. The new entity, JFS, would be listed on the Indian stock exchanges.  

    “The Board of Directors of Reliance Industries Ltd (RIL), at its meeting held today (Friday), approved a Scheme of Arrangement amongst RIL, Reliance Strategic Investments Limited (RSIL) and their respective shareholders and creditors in terms of which, RIL will demerge its financial services undertaking into RSIL (to be renamed Jio Financial Services Limited or JFSL),” RIL said in a statement. 

    The financial services are currently under Reliance Strategic Investments Limited (RSIL), which is a wholly-owned subsidiary of RIL and a non-banking financial company registered with the RBI.

    Pursuant to the scheme, the shareholders of RIL will receive one equity share of JFS of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL, the Mumbai-headquartered conglomerate said.

    The investment of RIL in Reliance Industrial Investments and Holdings Limited (RIIHL), which is a part of the financial services undertaking of Reliance Industries, will stand transferred to JFSL. 

    JFS will acquire liquid assets to provide adequate regulatory capital for lending to consumers and merchants, and incubate other financial services verticals such as insurance, payments, digital broking, and asset management for at least the next three years of business operations.

    The regulatory licenses for the key businesses are in place, the statement added.

    JFS and its subsidiaries will focus on the digital delivery of financial products to democratise financial services access for 1.4 billion Indians. It also plans to launch a consumer and merchant lending business based on proprietary data analytics to complement and supplement the traditional credit bureau-based underwriting, the RIL said.

    RIL MD and Chairman Mukesh Ambani said the JFS will be a truly transformational, customer-centric, and digital-first financial services enterprise offering simple, affordable, innovative, and intuitive financial services products to all Indians. JFS, he said, will be a technology-led business, delivering financial products digitally by leveraging the nationwide omnichannel presence of Reliance’s consumer businesses. 

    “JFS is uniquely positioned to capture multiple growth opportunities in financial services bringing millions of Indians into formal financial institutions,” Ambani added. 

    Citi, Morgan Stanley and Goldman Sachs are acting as financial advisors and Khaitan & Co is acting as legal advisor in relation to the proposed transaction.
     

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  • ‘Bought this phone just to use 5G’: Vijay Shekhar Sharma complains to Airtel, Google over 5G services

    ‘Bought this phone just to use 5G’: Vijay Shekhar Sharma complains to Airtel, Google over 5G services

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    Indian digital payments and financial services company Paytm’s CEO Vijay Shekhar Sharma, on Sunday, said that he was unable to use 5G in the national capital New Delhi, despite buying a new 5G phone.

    Sharma also said that he bought a new Google smartphone ‘Pixel 6a’ only to use 5G services rolled out by internet-provided Airtel but that did not help.

    Sharma, in a tweet, said, “Hello @Airtel_Presence, even the Google Pixel 6a is not showing 5G network option in Delhi. All upgrades done and I bought this phone just to use 5G!” He also tagged Airtel Cares, the telco’s customer support handle.

    Paytm CEO also attached a screenshot in his tweet, which shows that the 5G network was not displayed as the preferred network type.

    Moreover, in another tweet, Sharma explained that this was because of Google, the smartphone manufacturer that is yet to release a software update for 5G support.

    Sharma, tagging Google in another tweet, said, “Ouch! Hello @GoogleIndia do you think India should get 5G handset software upgrade soon? @GooglePixel_US”

    Paytm CEO’s tweet went viral across the social platform, with other people joining in and raising the same issue.

    Another Twitter user Mudit Mathur replied to Paytm CEO’s tweet, and said “The update will come only in December!” He also attached a cropped image of a conversation with Google support that reads “Our current target is to release 5G as part of our December feature drop.”

    Airtel launched its 5G internet services on October 6 and became the first telecom operator to officially roll out 5G services in India. It has launched Airtel 5G Plus service for 8 cities – Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi. The company also claims that its users won’t need to change their SIM card as the existing one will now be 5G-enabled.

    On the other hand, Reliance Jio is rolling out 5G service in four cities including – Delhi, Kolkata, Mumbai and Varanasi. Reliance Jio has also launched the Jio 5G Welcome Offer under which eligible users get unlimited 5G data and 1gbps data speed free of cost until the company announces 5G plans in India.

    Here’s how to check if your phone has 5G connectivity or not:

    1. Go to the settings app on your phone
    2. Click on the ‘Wi-Fi & Network’ option
    3. Go to the ‘SIM & Network’ option
    4. A list of all technologies will appear under the ‘Preferred network type’ option
    5. If your phone supports 5G, it will be listed with other services like 2G/3G/4G/5G.

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