Jio Payments Bank To Come Up In December

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    A 70:30 joint venture of Reliance Industries Ltd and State Bank of India, Jio Payments Bank which planned its launch at the same time as the delivery of its 4G Jio Phone got delayed. This happened as the banker to the bank had asked the upcoming entity to showcase its capabilities such that it is able to launch without notable glitches. The Payment Bank is now likely to come up in December.

     Jio Payments Bank To Come Up In December

    "The RBI wanted to be sure that the payments bank is fully compliant with all the regulations and is able to service its customers efficiently. The demonstrations are being made to assure the regulator that the standards of customer service will be sustainably maintained," said a Jio official.
    >
    > Through the joint venture, SBI would gain immediate access to Jio's customers in unbanked rural areas. At the same time, the new telecom entrant Jio will also be able to expand its customer base by leveraging SBI's reach. As of April 1, SBI's customer base totalled to 420 million while as per the reports of Cellular Operators Association of India, the customer base of Jio has touched 129 million by August 2017.
    >
    > Goodreturns.in

    Read more about: jio payments bank sbi jio 4g phone ril
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more