Jio BlackRock Gets SEBI Approval to Start Brokerage Business in India

Highlights

Jio BlackRock Broking Pvt Ltd has received permission from SEBI to begin brokerage services. This new step will help Indian investors trade stocks easily and affordably. Jio Financial Services shares rose 4% after the news.

Jio BlackRock Broking Pvt Ltd got approval from SEBI to start working as a brokerage firm in India.

Jio BlackRock Investment Advisers owns the company fully.

Following the news, Jio Financial Services shares increased by 4% to reach Rs 327.75 on the stock market.

The company wants to give Indian investors cheap, clear, and tech-based services to buy and sell stocks.

Jio BlackRock Investment Advisers is owned half by Jio Financial Services and half by BlackRock Inc.

Recently, Jio BlackRock Asset Management and Jio BlackRock Investment Advisers got permission to start work.

Now with the brokerage license, Jio BlackRock can give full investment services to people in India.

Marc Pilgrem, the CEO of Jio BlackRock Investment Advisers, said they are happy to get SEBI’s approval.

This will help India change from a country where people save money to a country where people invest money.

They will give personal advice to small investors.

Now with brokerage, they will also give a platform for investors who want to trade by themselves.