Post this acquisition, JPBL will become a wholly-owned subsidiary of JFSL.
The Mumbai-based company said it bought 6.8 crore shares of Jio Payments Bank for Rs 68 crore
Multiple levers that offer immense growth opportunities
The RBI imposed a penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions on marketing/distribution of mutual fund/insurance etc, and a penalty of ₹1 crpre on Jio Payments Bank over re-appointment of MD & CEO
Reliance Industries was one of the eleven applicants who were issued in-principle approvals by the regulator to set up payments banks back in 2015.