Jio Financial buys out SBI's stake in payments bank JV

Daily Current Affairs / Jio Financial buys out SBI's stake in payments bank JV

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Category : Business and economics Published on: March 07 2025

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State Bank of India (SBI) has decided to sell its entire 17.8 percent stake in Jio Payments Bank Limited, which is a joint venture between the state-owned bank and Jio Financial Services (JFS).
Reliance Group's company JFS will acquire SBI's stake for ₹1,045 million, after which Jio Payments Bank will become its wholly-owned subsidiary.