Jio Payments Bank
Jio Payments Bank is an Indian payments bank that started operating in 2018. Payment banks in India are a special category of bank that can accept deposits and make payments but cannot issue loans or other forms of credit including credit cards. Jio Payments Bank Limited is a joint venture between the Reliance Industries and the State Bank of India with the stake of 70:30.[1]
 | |
| Public | |
| Industry | Financial services |
| Founded | 3 April 2018 |
| Founder | Mukesh Ambani |
| Headquarters | Navi Mumbai, India |
Area served | India |
Key people |
|
| Services |
|
| Owner | Reliance Jio |
| Parent | Reliance Industries (70%) State Bank of India (30%) |
| Website | www |
History
On August 19, 2015 Reliance Industries received a licence to run a payments bank from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949. On November 10, 2016 it registered as a public limited company to set up a payments bank. On April 3, 2018 Jio Payments Bank became the sixth payment bank to commence operations in India.[2]
References
- "Jio Payments Bank". www.businesstoday.in. Retrieved 5 April 2018.
- "Jio Payments Bank begins its operations". economictimes.indiatimes.com. Retrieved 5 April 2018.
External links
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.