JIO Financial Services Ltd.

Jio Financial Services has acquired 7,90,80,000 equity shares of Jio Payments Bank (JPBL) from State Bank of India for an aggregate consideration of Rs 104.54 crore pursuant to the approval received from Reserve Bank of India on June 4, 2025. Consequent to this acquisition, JPBL has become a wholly owned subsidiary of the company. 

Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).