Jio Financial Becomes Sole Owner of Jio Payments Bank
Jio Financial Services Ltd (JFSL) on June 19, 2025, announced it has acquired the entire 17.8% stake held by the State Bank of India (SBI) in Jio Payments Bank, making the digital bank a wholly-owned subsidiary of the company. The deal, worth ₹104.54 crore, was approved by the Reserve Bank of India (RBI) earlier this month. The announcement coincided with a 1% dip in JFSL’s share price, even as the company continues to expand its fintech footprint, including a major collaboration with BlackRock in asset management.
The acquisition is significant as it marks a major corporate restructuring move by JFSL: Jio Payments Bank is now fully integrated under Reliance’s financial umbrella. The announcement came days after Jio BlackRock Mutual Fund launched Aladdin, a global risk-management platform in India. JFSL continues to deepen its digital financial services portfolio, signaling aggressive growth in India’s fintech and mutual fund sectors.
India is often called the Land of Festivals because it celebrates countless festivals throughout the…
Simone Tata, a transformative figure in India’s business landscape and the step-mother of Ratan Tata,…
IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…
Many countries have different names in different languages. One such country is Germany, which is…
Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…
Jharkhand, a state in eastern India, has a well-developed railway network that connects it to…