Why is Bajaj Finance looking to raise $1 bn?

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Bajaj Finance is reportedly looking to raise funds to the tune of $1bn, with its board scheduled to meet next week to consider a proposal. But why is India's most valued NBFC looking to raise funding? Is it because of the added competition from Jio Financial Services, and what will it do with the money? Forbes India's Nasrin Sultana gives us her analysis on this episode