Jio Financial Services (JFS) has been a looming threat for fintech startups from the moment it emerged on the scene. The might of Reliance’s network, capital and its data prowess gave JFS a sizable advantage over the field even before things had begun.

It’s this advantage that has allowed JFS to take its sweet time, place the building blocks without much hurry and get ready for the full onslaught. By all indications, there’s little holding the platform back now.

This week, the JFS-BlackRock JV got the SEBI nod to launch discount broking services, putting JFS in the league against Zerodha, IPO-bound Groww, AngelOne and others. Along with its AMC licence, this is JFS bringing its full might to the battle.

Let’s dive in, but first a look at the top stories from our newsroom this week:

• Fighting Fake News: Karnataka’s draft bill proposes jail terms of up to seven years and hefty fines for spreading fake news or misinformation online, but is this taking too broad a stance on the issue and will digital media startups end up paying the price?
• Urban Company’s Makeover: Just as Urban Company is getting ready to list on the public bourses, it is also undergoing a massive shift from a services-first model to a wider consumer durables play
• Amazon’s Boogeyman: Amazon’s fourth attempt at quick commerce foray comes out of compulsion, and not just trend hopping as the retailer is losing market share to younger incumbents. Will Amazon Now succeed where previous efforts failed?

Jio Financial Services Vs Zerodha, Groww

Even though Zerodha cofounder and CEO Nithin Kamath tried to downplay Jio’s entry, it’s hard to see how JFS does not eat into Zerodha and Groww’s revenue, which have seen some growth challenges in the past year.

JFS’ entry into the stockbroking space doesn’t pose as much threat to Zerodha as first-time founders, claimed Kamath. “I still feel our real competition is going to be more from first-generation founders who are running, breathing, and always thinking about broking. I somehow don’t feel it (the competition) is really going to be from incumbents,” he said in........

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