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Jio Financial to Purchase SBI’s Stake in Jio Payments Bank Joint Venture

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Jio Financial Services (JFS) announced on Tuesday that it will acquire the State Bank of India (SBI) stake in their joint venture, Jio Payments Bank, for Rs 104.5 crore.
“During today’s board meeting, the directors approved the purchase of 79 million equity shares of Jio Payments Bank from SBI at a total consideration of Rs 104.54 crore,” JFS stated in an exchange notification.

Currently, JFS owns an 82.17 percent stake in Jio Payments Bank, while SBI holds the remaining shares. Following this acquisition, Jio Payments Bank will become a wholly-owned subsidiary of Jio Financial Services.

This acquisition is pending approval from the Reserve Bank of India (RBI) and is anticipated to be finalized within 45 days after receiving RBI’s consent, according to JFS. SBI also confirmed in an exchange notification that its executive committee has given the green light for the divestment of its entire stake at a price of Rs 13.22 per equity share, totaling Rs 104.5 crore, contingent upon all necessary regulatory approvals.

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India May Buy More Oil From Venezuela Instead of Russia

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Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

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Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

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India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

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Chicken Prices Remain Stable in Local Markets

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Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

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Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

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Gold Prices Edge Up in India on January 19, 2026

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Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

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Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.

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