Ambani's Fintech Gambit: Jio Financial Services Buys Out SBI's Shareholding in Payments Bank for ₹1.05 Billion

Unknown Apr 02, 2026 3 Views

Mukesh Ambani's Jio Financial Services (JFS) has made a strategic announcement of acquiring State Bank of India's (SBI) complete 17.8% holding in Jio Payments Bank for ₹1.05 billion (or $12.03 million). The acquisition will turn Jio Payments Bank into a subsidiary company of JFS, with enh...