Jio Financial Services takes full control of Jio Payments Bank with Rs 104.5 crore SBI stake buy

Jio Financial Services has acquired a 17.8% stake in Jio Payments Bank from SBI, making it a wholly-owned subsidiary. This follows RBI approval and coincides with Jio BlackRock's launch of mutual fund schemes, aiming to offer innovative investment products. The company reported a slight increase in net profit and revenue for Q4 FY25.