Mumbai, Feb. 23 -- Jio Financial Services, led by Mukesh Ambani, has joined the Rs 2-trillion market cap club, with its shares rising by 10.2% to reach Rs 334 on Friday, media reported.

This surge values the unit, which was spun off from Reliance Industries (RIL) last year, at Rs 2.12 trillion, reported Business Standard.

Throughout this month, Jio Fins shares have seen a 34.5% increase.

These gains come amid issues faced by Paytm, a major player in digital payments, following regulatory actions by the Reserve Bank of India (RBI) against its payments bank unit.

One 97 Communications, the parent company of Paytm, has witnessed a significant decline of 46% in its shares this month.

The company is diversifying its operations by entering...