<ul data-eligibleForWebStory="true">Jio Financial Services poses a threat to fintech startups and incumbents in India.By obtaining regulatory approval for broking services, JFS challenges Zerodha, Groww, and others.JFS shows growth in profits, assets under management, customer base, and vertical diversification.Despite advantages, JFS faces challenges in user experience, margins, and tech sophistication.The fintech landscape sees intense competition as JFS vies for market share dominance.