June 11 (Reuters) - Jio BlackRock Investment

Advisers (JBIAPL) has received approval from India's markets

regulator to operate as an investment adviser, according to its

parent company, Jio Financial Services.

JBIAPL is a 50:50 joint venture of the billionaire Mukesh

Ambani-led Reliance Industries with Blackrock ( BLK ), the world's

largest asset manager.

Earlier this year, both entities invested 665 million rupees

($7.78 million) into the joint venture, bringing their total

investment to 845 million rupees.

The approval adds to Jio-BlackRock's growing financial

services footprint in India.

Jio BlackRock has also recently received approval from the

Securities and Exchange Board of India to launch its mutual fund

business in the country.

Jio Financial Services' shares closed 0.05% lower on

Wednesday.

($1 = 85.5020 Indian rupees)