THEBUSINESSBYTES BUREAU

MUMBAI, AUGUST 4, 2026

Jio Financial Services Ltd (JFSL) reported a 78 per cent year-on-year increase in consolidated total income, excluding dividends, to Rs 3,274 crore in FY26, driven by sharp growth across its lending, payments, asset management and insurance businesses as the company accelerated its artificial intelligence-led financial services strategy.

Core business operations income surged 272 per cent year-on-year to Rs 1,390 crore, contributing 54 per cent of net total income, while pre-provision operating profit (excluding dividends) stood at Rs 1,357 crore, according to the company's FY26 Annual Report.

Business growth remained strong across verticals during the year. Jio Credit's assets under management (AUM) expanded 156 per cent year-on-year to Rs 25,711 crore. Jio Payments Bank registered an 84 per cent rise in deposits to Rs 544 crore across 3.7 million customers, while Jio Payment Solutions reported a 144 per cent increase in total payment volume to over Rs 52,000 crore.

JioBlackRock Asset Management crossed Rs 16,000 crore in assets under management within its first year of operations, expanding access to first-time and retail investors beyond India's top 30 cities. Jio Insurance Broking facilitated insurance premiums worth Rs 982 crore during the year. The company also said Allianz Jio Reinsurance commenced operations in March 2026 alongside a binding joint venture for general and health insurance. JFSL's financial products and services are now available across more than 19,000 PIN codes in India.

Managing Director and Chief Executive Officer Hitesh Sethia said FY26 marked the company's transition from building foundational capabilities to executing at meaningful scale under the theme "Fintelligence For All."

He said the JioFinance App has evolved into a neural agentic marketplace powered by AI models and real-time behavioural intelligence, reaching 23 million unique users across its digital properties.

The company said artificial intelligence has become central to its operations, with more than 14 Agentic AI and over 15 data science use cases deployed using low-code and no-code platforms, reducing project delivery timelines from months to weeks and lowering operational costs by around 30 per cent. It also operates a 24x7 AI Command Centre for automated system monitoring and proactive threat prediction.

The JioFinance App now features a 15-agent AI ecosystem working alongside nearly 40 decision engines that analyse more than 800 behavioural traits to deliver real-time, hyper-personalised financial product recommendations.

Jio Credit deployed six enterprise-grade digital platforms covering partner process automation, debt and legal management, InsureTech, tele and video solutions, and MarTech. The company said digitisation of core workflows achieved 95 per cent partner adoption while reducing process turnaround time by 75-80 per cent. It also piloted 14 specialised AI projects across risk, compliance, credit and audit, reducing implementation timelines from three to four months to two to three weeks while delivering up to 30 per cent lower operating costs and 40 per cent faster process turnaround.

Jio Payments Bank said AI now handles nearly 60 per cent of customer support emails in native Indian languages and supports automated settlement for UPI Pay-In and Aadhaar Enabled Payment System transactions. Jio Payment Solutions implemented AI-powered transaction routing using Google Vertex AI and Retrieval-Augmented Generation technology, besides developing an AI-based digital workforce for compliance and transaction management.

Jio Insurance Broking introduced Agentic AI chatbots enabling customers to complete policy purchases in under three minutes, while JioBlackRock deployed BlackRock's Aladdin platform for institutional-grade risk management and launched Systematic Active Equity, an AI and machine learning-based investment framework covering more than 1,000 Indian companies.

Chairman K.V. Kamath said India's macroeconomic resilience, supported by stronger banking and corporate balance sheets, provides a strong foundation for the country's Viksit Bharat 2047 vision.

Describing artificial intelligence as a key enabler of growth, Kamath said AI should be viewed as a catalyst rather than a threat, adding that rapidly declining computing costs create a significant opportunity for India to accelerate economic progress.

He said traditional competitive moats in financial services are becoming less relevant as digital-native platforms capable of delivering contextual, intelligent and seamless financial experiences emerge as the industry's future.

Kamath also highlighted the growing strategic partnerships with BlackRock in wealth and asset management and Allianz in insurance, saying these collaborations would enable JFSL to deliver world-class financial services to Indian consumers.

Non-Executive Director Isha M. Ambani said FY2025-26 was a defining year in shaping the company's vision of "intelligent finance" and building visible market scale.

She said India's young, digitally native consumers increasingly demand speed, simplicity, transparency and personalised experiences, prompting the company to redesign financial services around these evolving expectations.

Ambani said the JioFinance App, powered by Agentic AI, is moving towards an "N=1" experience where every customer is served by a personalised financial companion. She added that the company's ability to leverage the scale, trust and distribution strength of the broader Jio ecosystem provides a significant competitive advantage while enabling it to build products that meet global standards.