Reliance Jio Now Brings Payments Bank on Mobile

Hi Friends, have you heard about the Latest News from Jio ? Here it is that the Jio has announced they were launching Jio Payments Bank. 

As the information the Jio Money Wallet will be close and will be transferred to Payments Bank Account. Because as per the RBI guidelines every wallet they must verify with the KYC documents.

In today's time there are many banks that were introduced like Airtel Payments Bank, Paytm Payments Bank and were the other banks were offering the customers to make the account from the mobile with in their app by verifying their KYC documents from online.

Jio Payments Bank Limited has commenced operations as a payments bank with effect from April 3, 2018. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India.

Reliance Industries Limited, Mumbai was one of the 11 applicants which were issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015.

According Latest SMS Received From Reliance JIO Official to Users stated “JioMoney account will be transferred from Reliance Payment Solutions Ltd to Jio Payments Bank Ltd on 14.03.2018“. Yet to confirm this message sent by jio official or not.

We will update more information soon.