On 12 August, when Jio Financial Services announced that Bank of America would buy nearly half of Jio Credit, its lending arm, many hailed it as yet another display of Mukesh Ambani’s deal-making chops.

After all, this is the third marquee foreign player that Jio Financial Services, backed by Asia’s richest man, has roped in just the past two years. 

First, it partnered with global investment giant Blackrock for asset management, broking, and wealth management. Next, German insurer Allianz joined hands for........

© The Ken