Jio Payments Bank Limited was incorporated in November 2016.
Reliance Industries Limited was given in-principle approval by the Reserve Bank of India (‘RBI’) to set up this bank under the Banking Regulation Act, 1949. It then partnered with State Bank of India to support this ambitious initiative.
With the Reliance Group’s leadership track record in massive roll-outs, the Payments Bank initiative by Reliance is seen as a significant opportunity to lead and co-create a transformative impact on India’s financial inclusion landscape goes. An ecosystem to provide accessible, simple and affordable banking solutions to all constituents of our country – especially the financially excluded, saw this bank to digitize payments and act as a catalyst for a cashless society goes.
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