State Bank of India upon necessary approval from Reserve Bank of India, has executed the Share Purchase Agreement with Jio financial Services Limited (JFSL) and Jio Payments Bank Limited (JPBL) on a consideration amounting to ₹104,54,37,600/- and transferred the entire shareholding in JPBL to JFSL. Post conclusion of the transaction, the Bank's shareholding in JPBL has been reduced to nil.