From Yahoo Finance: 2025-06-19 08:21:00

Jio Financial Services (JFSL) has acquired the State Bank of India’s 17.8% stake in Jio Payments Bank, making it a wholly-owned subsidiary valued at Rs1.04bn ($12.05m). This move is part of Reliance’s strategy to gain control over its fintech operations, aligning with the launch of Aladdin, a global risk-management platform in India by Jio BlackRock Mutual Fund. The acquisition allows JFSL to integrate digital banking with other financial services, creating a unified digital finance ecosystem. Additionally, the upgraded JioFinance App is now available on major app stores.



Read more at Yahoo Finance: Jio Financial takes full ownership of Jio Payments Bank