Neobanking Startup Jupiter Seeks RBI Approval For Stake In SBM Bank India

Neobanking startup Jupiter is in discussions to acquire a 26% stake in SBM Bank India, contingent upon obtaining approval from the Reserve Bank of India (RBI).

This potential deal may proceed in multiple phases and could allow for the possibility of increasing the stake later on. The move comes shortly after Jupiter's interest in a smaller stake of 5% to 9.9% was reported.


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