Jio Financial Services infuses Rs 190 crore in Payments Bank arm

Jio Financial Services Ltd (JFSL) has invested Rs 190 crore in its payments bank subsidiary, Jio Payments Bank Ltd, by acquiring 19,00,00,000 equity shares. This transaction follows JFSL’s recent acquisition of State Bank of India’s 17.8% stake in Jio Payments Bank, making it a wholly-owned subsidiary. The deal was executed at arm’s length.