Jio payment bank will soon be started

jio payment bank
Image credit: http://www.squarecapital.co.in/blog/jio-payments-bank-expected-arrive-end-year

Jio payment bank will soon be started. At this time features are being added for payment services in all apps. That’s why Reliance Jio has stepped on this. After this you will not have to turn around the bank. Banking can be easily done from mobile. Jio has also started work to make the service available to the customers.

Also Read: What Is BHIM App? How To Use BHIM App?

State Bank of India (SBI) has given information about Jio’s work to be started through a press release. According to the media report, the RBI said that the operation of the Jio Payment Bank has begun from April 3, 2018. The RBI gave license to 11 companies, including Jio on August 19, 2015, to the payment bank. RBI said that the joint venture of Jio Payment Bank, Reliance Industries Limited (RIL) and State Bank of India. RIL has 70 percent stake in this.

Jio users need to install the payment bank app to avail the services of the payment bank. After that, add the base number and link it. Update the address if the debit / ATM card is needed. After this, customers will come to your house for thumb impression for executive identity. Or you can also get verification by going to the Zero Payment Bank’s Authorization Center.

Anybody can open a savings account in Jio’s payment bank. In this account, the facility of depositing up to one lakh rupees will be available. Payment Bank Debit Card will also be issued. The payment bank will also have the option of providing general financial products such as mutual funds and insurance products to the customer. It will also be beneficial for small businessmen too. Under this, salary accounts can also be opened in the payment bank for a business of 5-6 employees. Banking through the payment bank through mobile will be quite easy and it will also get rid of the need for banks to revolve. It has its own limitations, which makes it different from normal banking.

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