In a strategic consolidation move, Jio Financial Services Ltd (JFSL) has acquired the remaining 17.8% stake in Jio Payments Bank Ltd from State Bank of India (SBI) for Rs. 104.54 crore, making the digital banking arm a wholly-owned subsidiary. The transaction, completed following approval from the Reserve Bank of India on June 4, involved the purchase of 7.91 crore equity shares.