Jio Payments Bank - Business Outrank

Jio Financial Services Ltd. has informed the exchanges regarding taking over SBI’s entire stake in Jio Payments Bank for ₹104.54 crore. This will make Jio Payments Bank a fully owned subsidiary of Jio Financial. As of now, Jio Financial owns 82.17% stake in Jio Payments Bank Limited (JPBL) which was a joint venture with State Bank of India. In a regulatory filing, Jio Financial stated that its board has approved the acquisition of more than 7.90 crore equity shares from SBI. This is because once the acquisition is done, JPBL will be completely owned by Jio Financial and this will enable the company to concentrate on its strategies and strategies for growth in the Indian digital banking market. The deal is still pending approval from the RBI and is expected to be settled within 45 days after the next approval. The acquisition of Jio shows the company’s determination to build its position in the financial services industry and provide new and improved digital banking products and services. Jio Payments Bank, which was launched in association with SBI, has been a key player in financial inclusion and digital payments in India. On the stock market, the shares of Jio Financial closed at ₹206.35 on Tuesday, up by 2.69 per cent from the close of the previous day on the Bombay Stock Exchange (BSE). The acquisition of the assets shows the strategic vision of Jio to expand its business in the financial services industry and to maintain its leadership in the field of digital financial services.

What's Hot

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Rail Infrastructure Boost: Coal India Signs Pact with Indian Port Rail & Ropeway Corp

FY25 Rollercoaster for New-Age Stocks: Eternal, Nykaa Shine While Paytm, Swiggy Struggle

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Jio Payments Bank

Jio Financial Acquires SBI’s Stake in Jio Payments Bank for ₹104.54 Crore

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Rail Infrastructure Boost: Coal India Signs Pact with Indian Port Rail & Ropeway Corp

FY25 Rollercoaster for New-Age Stocks: Eternal, Nykaa Shine While Paytm, Swiggy Struggle

Reddit Sues Anthropic Over Chatbot Training Using User Data Without Consent

Our Picks

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Rail Infrastructure Boost: Coal India Signs Pact with Indian Port Rail & Ropeway Corp

FY25 Rollercoaster for New-Age Stocks: Eternal, Nykaa Shine While Paytm, Swiggy Struggle

Most Popular

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Jio Payments Bank