Piramal has already roped in Jairam Shridharan from Axis bank(ex CFO) to head the Consumer financing business.
The telecom company(Jio) will be generating the leads from a huge pool of prospective customers and if we combine the data they collect from customers along with Facebook,privacy and consumer rights be damned they would not only have built complete consumer profiles but also have the ability to track changes in real time.
The credit risk for this will be borne by PEL,so this is a win win for RIL.
With lending businesses,just having money does not guarantee success as we have seen time and again.
The ability to have a stable liability profile juxtaposed with proper underwriting are critical for success.