India, June 18 -- Jio Financial Services Ltd (JFSL) on Wednesday announced that it has acquired State Bank of India's entire 17.8% stake in Jio Payments Bank Ltd for Rs 104.54 crore.
Following the transaction, Jio Payments Bank has become a wholly-owned subsidiary of JFSL.
According to a regulatory filing, JFSL purchased 7,90,80,000 equity shares from SBI after receiving approval from the Reserve Bank of India on June 4.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....