Reliance AGM: JFSL To Enter Insurance, JioAir Fibre Launch Date Announced
On the 46th Annual General Meeting of Reliance Industries Limited, MD and Chairman Mukesh Ambani began with congratulating the Chandrayaan mission. He listed the succession plan, future plans and endeavours for the RIL. The AGM was held through video conference and was live cast.
Isha Ambani, Anant Ambani and Akash Ambani, inducted in the board of directors of Reliance Industries while Nita Ambani steps down.
Mukesh Ambani to stay as Chairman and MD of RIL for 5 more years. Akash Ambani and Isha Ambani to focus on Telecom and Retail divisions while Anant to focus on new energy business.
RIL Chairman Mukesh Ambani announced that JioAir Fibre will be launched on 19 September, on Ganesh Chaturthi. “With this we can have upto 1.5 lakh connections per day,” he said.
Reliance Retail to be the fastest growing business in terms of revenue and EBITDA.
RIL to set up battery giga factory by 2026, is focusing on the commercialization of their sodium ion battery technology. Also, 100 GW renewable energy capacity target by 2030.
The Jio Financial Services (JFS) will enter the Insurance sector along with global partners. The JFS will have three segments in insurance: general, health and life insurance
For the future of Jio, Jio segments to have a global expansion, the consumer segment would be powered by Jio 5G and Jio Bharat and home segment turbo to be charged by JioAir Fibre.
The Jio platforms would develop AI models powered solutions across segments.
Akash Ambani, on his speech touched upon, Jio True 5G developer platform, which could accelerate the industry’s transformation.
RIL Chairman, Mukesh Ambani listed five goals to achieve for RIL: Digital tools everywhere, Green Energy and Green Materials everywhere, Financial empowerment, entrepreneurship, and gainful employment everywhere, Healthy and responsible consumption everywhere, Quality education and healthcare everywhere.
The AGM did not have much impact upon the markets as the shares of Reliance industries closed at Rs. 2435.95 paise on BSE,1.38 percent down.
