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

Jio Financial Services
on Wednesday acquired over 7.90 crore equity shares worth Rs 104.54 crore of
Jio Payments Bank
Limited (JPBL) from
State Bank of India
(SBI) following a Reserve Bank of India (RBI) nod on June 4, 2025.
JPBL is now a wholly owned subsidiary of Jio Financial Services.
In March, Jio Financial had announced its intentions to buy the 17.8% stake from SBI.
Shares of Jio Financial Services today ended at Rs 287.75 on the NSE, declining by Rs 2.05 or 0.71% over the Tuesday closing price.
The company has been in the news following a series of
mutual fund scheme
launches by Jio BlackRock
Asset Management
. The latter is a 50:50 joint venture between Jio Financial Services and BlackRock, and it received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as an investment manager for their
mutual fund
business in India.
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With a digital-first approach and global investment expertise, the firm aims to offer innovative, low-cost investment products, led by CEO Sid Swaminathan.
JioBlackRock Asset Management is expected to bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India. The asset management company will seek to leverage the unique strengths of its two sponsors: JFSL's digital reach and its deep understanding of the local market, alongside BlackRock's global investment expertise and leading risk management technology.
Jio Financial Services
had reported a marginal 2% growth in its consolidated net profit at Rs 316 crore in the fourth quarter of FY25, compared with Rs 311 crore in the same quarter of the last year. Revenue from operations during the reporting period rose 18% year-on-year (YoY) to Rs 493 crore. The same stood at Rs 418 crore in the previous year period.
Also Read:
Jio BlackRock Mutual Fund launches 'Aladdin' investment management platform in India
On a sequential basis, revenue from operations rose 13%, while the profit after tax jumped 7% quarter-on-quarter.
Interest income during the fourth quarter fell marginally to Rs 276 crore in the January-March 2024 period, while the income from fees and commissions improved to Rs 39 crore.

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Will India be hit if Iran closes Strait of Hormuz? How will West Asia war impact trade?

With the US inserting itself in the Israel-Iran conflict, more uncertainty grips the world. The Islamic Republic has threatened to close the Strait of Hormuz, a key oil supply route. With global oil prices rising, will India feel the pinch? What else should the everyday Indian be worried about with no end to the war in sight? read more Oil tankers pass through the Strait of Hormuz. Iran has threatened to close this key oil supply route after US attacked its nuclear sites on Sunday (June 22). File photo/Reuters It's a jittery Monday. A day after the US struck nuclear sites in Iran, there are concerns about disruption in the energy markets, even more so after Iran's parliament approved a motion calling for the closure of the Strait of Hormuz, the oil artery of the world. While the final call on this crucial oil supply route will be taken by Iran's Supreme National Security Council, oil prices on Monday hit a five-month high before easing and Asian markets slid. India will be impacted as uncertainty continues over the US and Iran's next movie. STORY CONTINUES BELOW THIS AD New Delhi has stakes in both Israel and Iran, and a prolonged conflict could hit everything from oil supply, trade and the rupee. We analyse how prepared India is for the fallout from the West Asia crisis. Strait of Hormuz and India's oil trade India is watching closely if Iran will act on its threat and shut down the Strait of Hormuz , the world's most critical oil transit checkpoint. The Islamic Republic has never done this in the past, though similar warnings have been issued on multiple occasions. Iran is the world's ninth-biggest oil-producing country with an output of nearly 3.3 million barrels a day. India, the world's third-largest consumer of crude oil, depends heavily on imports to meet more than 85 per cent of its requirements. However, Indian refiners do not purchase crude from Iran, as its energy sector is sanctioned by the US, The Indian Express reports. India has also shifted its oil procurement strategy with a focus on Russia and the US. Imports from Russia increased after the Ukraine invasion because of good discounts following Western sanctions. American oil shipments to India increased to 439,000 barrels per day in June, higher than the 280,000 bpd in the earlier month. The dependence on West Asian countries is slowly reducing. But India still gets its crude oil from Iraq, Saudi Arabia and the UAE. It also purchases oil from Kuwait, Qatar, and Oman. The Strait of Hormuz, then, matters to India as close to 47 per cent of this imported crude is transported via this route, the report says. So if the oil supply channel is disrupted, the distribution in the supply chain will hit India. STORY CONTINUES BELOW THIS AD The shutting down of the narrow passage would have significant global repercussions across energy markets, and it will impact India's energy security as well, Dr Laxman Kumar Behera, associate professor at Special Centre for National Security Studies at the Jawaharlal Nehru University, told news agency PTI. According to Behera, any disruption in the critical shipping lane, which is a geopolitical flashpoint, will majorly impact India's crude oil imports from Iraq and, to an extent, from Saudi Arabia. A map showing the Strait of Hormuz and Iran is seen behind a 3D-printed oil pipeline in this illustration. A big percentage of India's imported crude comes via this route. Reuters However, the Indian government says it is prepared. Petroleum and Natural Gas Minister Hardeep Singh Puri said for the past two weeks, India has been closely monitoring the evolving geopolitical situation in West Asia. 'Under PM Narendra Modi's leadership, India has diversified its supplies over the past few years, reducing reliance on the Strait of Hormuz,' he said. 'Our oil marketing companies have several weeks of supplies and continue to receive energy from various routes. We will take all necessary steps to ensure the stability of fuel supplies for our citizens.' STORY CONTINUES BELOW THIS AD Puri said if India imports only about 1.5 million barrels through this route, it will turn to other suppliers to fill the gap if the strait is closed. Behind-the-scenes negotiations are reportedly underway to ensure that Russia, Qatar, and African countries provide more oil without relying on the Strait of Hormuz, reports News18. Fuga Bluemarine crude oil tanker lies at anchor near the terminal Kozmino in Nakhodka Bay near the port city of Nakhodka, Russia. Russian oil imports to India measured 1.96 million barrels per day in May. Reuters Inflation While India might have enough oil supplies for now, it is likely to be affected by the disruptions if the oil route is shut. In such a scenario, oil prices could see a jump. 'Oil prices are expected to surge due to increased tensions in the region, with some analysts predicting prices to reach $80-$ 90 per barrel or even $00 per barrel if Iran responds with retaliatory measures,' said Captain D K Sharma (retd), a former Indian Navy spokesperson, who closely follows developments in the Gulf region. Some experts even hit that it could touch $120 per barrel. The surge in prices will have a domino effect in India. If oil prices rise, it will lead to higher energy and shipping costs, leading to domestic inflation. However, India need not worry just yet. Sachchidanand Shukla, group chief economist at Larsen & Toubro, told Mint, 'India can absorb oil prices up to $85 a barrel without triggering large macro imbalances. There is no need to panic, and one needs to keep an eye on how the situation evolves.' STORY CONTINUES BELOW THIS AD If global oil prices rise, India's economy will also be affected. Reuters India's trade with West Asia Both Iran and Israel are important trading partners for India. Basmati rice is one of India's big exports to the Islamic Republic, which amounted to $753.2 million in FY25. Other exports are banana, tea, soya, and Bengal gram. The basmati exports to Iran have stopped since the latest conflict with Israel started 12 days ago. Operations at Iran's Bandar Abbas port have reportedly been suspended, and many consignments are stuck. 'We export around one million tonnes of basmati to Iran, which is approximately 15 to 16 per cent of total global export from India. Due to the present crisis, now around Rs 3,000 crore worth of export orders are hanging in the balance as no one knows how the situation will develop in the coming days as the banking infrastructure there has either collapsed or frozen, thus no transactions. We have just kept our fingers crossed,' Ranjit Singh Jossan, vice-president of the Basmati Rice Miller and Exporter Association, told The New Indian Express. STORY CONTINUES BELOW THIS AD India is a major exporter of basmati rice to Iran. This trade has taken a hit since the Israel-Iran conflict started. Reuters Other perishable items like bananas and tea will also be hit by delays. India exports 20,000 to 25,000 tonnes of tea to Iran, especially from Assam. However, exports are now on hold because of the conflict. B Rajesh Chander, a member of the Tea Board India, told The Hindu last week, 'There is fear that exports to countries such as Azerbaijan and Kazakhstan may also get affected in the future if the conflict continues.' 'A prolonged conflict could dampen Iranian demand and squeeze Indian exports,' Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), said. Israel is a larger trading partner – exports in FY 2024-25 amounted to $2.1 billion, and imports were at $1.6 billion. Trade with other countries in West Asia, like Iraq, Jordan, Lebanon, Syria and Yemen, could be hit. India's exports to the region stood at $8.6 billion, and imports were $33.1 billion. Financial markets India's benchmark indices, Sensex and Nifty, opened lower on Monday over tensions in West Asia. Almost all sectors were in the red. The Indian rupee fell 20 paise to 86.75 against the US dollar in early trade. The Indian rupee and government bonds face pressure this week following the US strike on Iran. STORY CONTINUES BELOW THIS AD It is impossible to be shielded from the impact of the conflict. However, a few cautionary steps will prevent New Delhi from feeling the full blow.

News18

13 minutes ago

• News18

'India To Outpace G7 Countries In GDP Growth By 2030': Report

Last Updated: Strong macro fundamentals, policy-led capex, resurgence in rural consumption, and structural manufacturing will be key long-term drivers of India's growth, says Equirus. Global capital can no longer overlook India's structural economic advantages, as the nation is poised to significantly outpace G7 economies in growth, wealth management firm Equirus said in its latest report. It added that strong macro fundamentals, policy-led capital expenditure, a resurgence in rural consumption, and structural manufacturing will act as key long-term drivers of India's growth and alpha generation. 'India is no longer the world's fastest-growing economy just on paper — it is structurally better positioned than most G7 nations. That's a seismic shift," said Mitesh Shah, CEO of Equirus Credence Family Office. He added that the global macro regime is shifting. US growth has been revised down sharply, and while India is projected to contribute over 15% to global GDP growth (2025-2030), traditional 60/40 portfolios are breaking down. 'In this new regime, strategic asset allocation across geographies and growth cycles isn't optional — it's the alpha generator," Shah said in the report titled 'India to Outpace G7 – Can Domestic Resilience Outpace Global Volatility? Decoding Wealth, Asset Allocation, and Market Strategy in 2025'. The G7 (Group of Seven) is an intergovernmental organisation of seven advanced nations — the United States, Canada, United Kingdom, France, Germany, Italy, and Japan. India is benefiting from structural trends: rural FMCG demand outpacing urban (6% vs 2.8%), policy-led capex rising 17.4%, and Rs 2.5 lakh crore liquidity infusion underway, according to the report. India has already surpassed Japan to become the world's fourth-largest economy by nominal GDP, NITI Aayog CEO BVR Subrahmanyam announced recently. According to the IMF, India's GDP is currently $4.187 trillion, overtaking Japan's $4.186 trillion. Citing IMF data, Subrahmanyam said India today is larger than Japan. Significantly outpacing Japan (less than 1%) and Germany (just over 1.3%). Bangladesh is even forecast to surpass Japan in contribution. Rural Consumption Drives Recovery: FMCG demand in rural India grew 6%, outstripping urban markets at 2.8%. The monthly per capita expenditure gap between rural and urban households has narrowed from 84% to 70% over the last decade. Reassessing the 60/40 Portfolio Paradigm: The report challenges the viability of the long-standing 60/40 portfolio strategy — historically seen as the gold standard for diversified investing. In 2022, the S&P 500 dropped 18.1%, while US bonds declined by 13%, marking the worst combined performance since 1937. Rising correlations between equities and bonds are undermining passive diversification models. In today's volatile and fragmented global regime, strategic asset allocation is no longer optional — it is essential for capital preservation and alpha generation. The report urges investors to adopt a more dynamic and forward-looking asset allocation approach — one that spans geographies, sectors, and growth cycles. With India emerging as a structural outperformer, the firm sees the country's multi-engine growth—driven by rural consumption, capex, and supply chain shifts — as a compelling opportunity for both capital preservation and long-term alpha generation. Global & Domestic Factors Reinforcing India's Advantage: Favorable Global Environment: The Dollar Index (DXY) has declined approximately 6% from its 2025 peak, and crude oil remains stable at $70/barrel, easing India's import bill pressure, Equirus said. Supply Chain Diversification: While the 'China+1 narrative is evolving, concrete shifts are emerging. As multinational firms like Apple diversify away from China, shifting iPhone production to India benefits from cost efficiencies, lower attrition, and geopolitical alignment. Policy-led Capex Boom: Centralplusstate capital expenditure is set to jump 17.4% postelection, backed by a Rs 2.5 lakh crore liquidity infusion via phased CRR cuts. The monthly per capita expenditure gap between rural and urban households has narrowed from 84% to 70% over the last decade. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : economic indian economy Location : New Delhi, India, India First Published: June 23, 2025, 11:26 IST News business » economy 'India To Outpace G7 Countries In GDP Growth By 2030': Report

India.com

14 minutes ago

• India.com

Oil Prices At 5-Month High Amid Mideast Crisis, India Has Enough Supplies

New Delhi: Oil prices rose to their highest level since January this year on Monday after the US strikes on nuclear facilities in Iran, with the country threatening to shut Strait of Hormuz, through which around 20 per cent of global crude supply flows. Brent crude futures was up $1.92 or 2.49 per cent at $78.93 a barrel early on Monday. US West Texas Intermediate crude increased $1.89 or 2.56 per cent to $75.73. Brent crude prices surged as much as 5 per cent. However, prices could not sustain at those levels and pared the early advance almost immediately. Crude oil prices extended gains for a third straight week amid rising geopolitical tensions and a sharper-than-expected drawdown in US inventories. The ongoing hostilities between Israel and Iran have heightened supply concerns across the Middle East, a region critical to global oil exports. According to the US Energy Information Administration (EIA), crude stockpiles dropped by 11.5 million barrels last week — significantly higher than the anticipated 2.3 million-barrel decline. 'Crude oil is seen having support at $74.20-73.40 and resistance at $75.65-76.20 in today's session. In Rs terms, crude oil has support at Rs 6,400-6,320 while resistance is at Rs 6,580-6,690,' said Rahul Kalantri, VP Commodities, Mehta Equities Ltd. Even though the possibility of the closure of Hormuz Strait is a threat, it is important to understand that this has always been only a threat and the Strait had never been closed. 'The fact is that the closure of Hormuz Strait will harm Iran and Iran's friend China more than anyone else,' said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. Meanwhile, Minister of Petroleum and Natural Gas, Hardeep Singh Puri, has allayed fears over any disruption in oil supplies to Indian consumers due to the Israel-Iran war and further escalation in geopolitical tensions in the Middle East because of US bombing of Iran's nuclear sites. 'We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks. Under the leadership of Prime Minister Narendra Modi, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now,' the minister said. He pointed out that the country's oil marketing companies (Indian Oil, Bharat Petroleum and Hindustan Petroleum) have supplies for several weeks and continue to receive energy supplies from several routes. 'We will take all necessary steps to ensure stability of supplies of fuel to our citizens,' the minister assured. India imports around 85 per cent of its crude oil requirement and a surge in oil prices leads to an increase in its oil import bill and pushes up the rate of inflation which hurts economic growth. However, India has diversified its oil sources by increasing imports from Russia as well as the US and building resilience through strategic reserves.