• Home
  • Affiliate Disclosure
  • Contact Us
Technology | Software Reviews | Product Reviews | Internet Marketing
  • Home
  • Tech
    • All
    • Mobile
    QR Code Queue System

    QR Code Queue System: How It Helps To Reduce Long Queues At Your Business?

    Create A Tutorial Video Content

    Create A Tutorial Video Content In Minutes

    Identity Verification

    Identity Verification: How Well Are You Doing?

    What Is A VPN And How Does It Work

    What Is A VPN And How Does It Work?

    Tools For Microsoft Data Protection And Security

    Top 10 Software Solutions And Tools For Microsoft Data Protection And Security

    cloud based access control system

    How Do Access Control Systems Work?

    Software Development Outsourcing

    Anti-Crisis Guide For Software Development Outsourcing In 2022

    Payment Systems

    A Comparison Of Different Types Of Payment Systems

    Data Literate Workforce

    Significant Advantages Of A Data Literate Workforce

  • Fintech
    Cash App To Your Checking Account

    Can You Link Cash App To Your Checking Account?

    Best Cryptocurrencies To Invest

    Best Cryptocurrencies To Invest In

    What Is Coin98

    What Is Coin98: Essence And Cryptocurrency Rates

    Bitcoin Adoption

    Bitcoin Adoption: What Is It And How Will It Change Its Course

    IT Insurance VS Cybersecurity Insurance

    Understanding IT Insurance VS Cybersecurity Insurance

    El Salvador

    El Salvador – The Country Where You Can Use Bitcoins Legally!

    Cryptocurrency Is Becoming A Financial Force

    5 Signs Cryptocurrency Is Becoming A Financial Force To Be Reckoned With

    What All You Need To Know For A Healthy Crypto Investment

    Easy Ways To Enhance Your Crypto Earnings

  • Blockchain
    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Crypto Loans

    4 Essential Benefits Of Crypto Loans

    Blockchain Security

    Why Blockchain Security Is Good For You

    Blockchain Technology

    Blockchain Technology Explained

    VC Funding For Blockchain

    3 Proofs That Blockchain Will Soon Revolutionize Mortgage Lending

    Blockchain Could Help Advertisers

    The Blockchain Could Help Advertisers Lock Up Our Attention

    Blockchain Technology

    How Blockchain Technology Is About To Transform Sharemarket Trading

    Deloitte's 2020 Global Survey

    Deloitte’s 2020 Global Survey: Blockchain Becomes Top Strategic Priority For Majority Of Organizations

    VC Funding For Blockchain

    Top Blockchain-Based Security Solutions In 2020

  • E-Commerce
    Great Marketing Practices Every E-Commerce Store

    3 Great Marketing Practices Every E-Commerce Store Should Use

    Grow Your eCommerce Business

    4 Ways To Grow Your eCommerce Business

    E-commerce Website Development

    Top Tips For Your E-commerce Website Development Process

    How To Make Money With Dropshipping

    How To Make Money With Dropshipping

    Digital Marketing For Ecommerce

    The Value In Investing In Digital Marketing For Ecommerce

    16 Best eCommerce Software Platforms For Online Business

    16 Best eCommerce Software Platforms For Online Business

    ecommerce ideas

    6 Things To Consider When You are Running an E-Commerce Business

    3dcart- ecommerce Platforms

    Best e-Commerce Software Platforms For Online Business

  • Lifestyle
    Hoboken apartments

    Family-Friendly Activities In The Tri-State Area

    Harry Potter Costume

    The Best Harry Potter Costumes To Bring Your Magical Fantasies To Life

    fun things to do on birthday

    10 Amazing Things You Must Do On Your Birthday

    Better Hair Quality

    Women Need A Better Hair Quality All The Time

    Is Your Office Job Killing You Slowly

    Is Your Office Job Killing You Slowly?

    Healthy Work-Life Balance

    Top Tips To Maintain A Healthy Work-Life Balance

    arbie Sole Tattoo

    Barbie Sole Tattoo Trends Blowing Up On Instagram

    Dumbest Fashion Trends In History

    From Muslin Dresses To Corsets: 17 Dumbest Fashion Trends In History

    How to apply foundation in the best way

    How To Apply Foundation In The Best Way?

  • Inbound Marketing
    • All
    • Content Marketing
    • Email Marketing
    Perfect PowerPoint Presentation

    How To Create The Perfect PowerPoint Presentation

    Grow Your Email List

    8 Actionable Ways (Tested) To Grow Your Email List In 2022

    Competitive Analysis

    A Complete Guide On Competitive Analysis For Beginners

    EDM Marketing

    How EDM Marketing Is Different From Email Marketing? Which One Is Better?

    The State of Digital Marketing in Bangkok

    The State Of Digital Marketing In Bangkok

    Meme Marketing

    Meme Marketing – Why Are Brands Smiling About It

    Better Content Marketing

    Top 14 Essential Tips For Better Content Marketing

    Email open rates

    Personalization In Email Marketing: How To Increase Email Open Rates?

    Tech Blogging: An Era Ends? Or, A New Begining!

    Blog Strategy For Sustainable Content Marketing Business

  • Online Marketing
    • All
    • Mobile Marketing
    • Search Engine Marketing
    • Search Engine Optimization
    • Social Media Marketing
    Social Media Messaging

    Did You Know You Can Manage All Your Social Media Messaging In One Place?

    How Stergo Media Populous SEO, PPC, And SMM

    Leading The Way With Innovation: How Stergo Media Populous SEO, PPC, And SMM

    Digital Marketing Trends

    Top 7 Digital Marketing Trends In 2022

    Marketing Videos

    Why Should You Add Video Collages To Your Marketing Videos?

    Digital Marketing Hacks

    Digital Marketing Hacks 101 For Small Business Entrepreneurs

    Community For Your Business’s B2B Marketing

    How To Build And Use Your Community For Your Business’s B2B Marketing

    Digital Marketing Channels

    Best 5 Digital Marketing Channels For Your Brand In 2022

    Knowing the SEO Basics

    Knowing The SEO Basics

    SMS Marketing Mistakes to Avoid

    SMS Marketing Mistakes To Avoid

  • Software
    Salesforce: How Does It Work

    BigQuery To Salesforce: How Does It Work?

    Scheduling A Painless Job

    Top 10 All-In-One Automated Platforms That Make Scheduling A Painless Job

    Invalua

    Ivalua Alternatives 2022: 10 Best Spend Management Software

    Booket

    Booket Alternatives 2022: 10 Best Salon Management Software

    Recruitment Assessment Tools

    Harver Tool Alternatives 2022: 10 Best Recruitment Assessment Tools

    Wordtune

    Wordtune Alternatives 2022: 10 Great AI-Powered Writing Tools

    Eduflow

    Eduflow Alternatives 2022: 10 Best Learning Management Solutions

    Payroll process

    This Is How You Can Make The Payroll Process More Strategic And Organized

    Best HR Software

    How To Choose The Best HR Software For Your Work?

No Result
View All Result
  • Home
  • Tech
    • All
    • Mobile
    QR Code Queue System

    QR Code Queue System: How It Helps To Reduce Long Queues At Your Business?

    Create A Tutorial Video Content

    Create A Tutorial Video Content In Minutes

    Identity Verification

    Identity Verification: How Well Are You Doing?

    What Is A VPN And How Does It Work

    What Is A VPN And How Does It Work?

    Tools For Microsoft Data Protection And Security

    Top 10 Software Solutions And Tools For Microsoft Data Protection And Security

    cloud based access control system

    How Do Access Control Systems Work?

    Software Development Outsourcing

    Anti-Crisis Guide For Software Development Outsourcing In 2022

    Payment Systems

    A Comparison Of Different Types Of Payment Systems

    Data Literate Workforce

    Significant Advantages Of A Data Literate Workforce

  • Fintech
    Cash App To Your Checking Account

    Can You Link Cash App To Your Checking Account?

    Best Cryptocurrencies To Invest

    Best Cryptocurrencies To Invest In

    What Is Coin98

    What Is Coin98: Essence And Cryptocurrency Rates

    Bitcoin Adoption

    Bitcoin Adoption: What Is It And How Will It Change Its Course

    IT Insurance VS Cybersecurity Insurance

    Understanding IT Insurance VS Cybersecurity Insurance

    El Salvador

    El Salvador – The Country Where You Can Use Bitcoins Legally!

    Cryptocurrency Is Becoming A Financial Force

    5 Signs Cryptocurrency Is Becoming A Financial Force To Be Reckoned With

    What All You Need To Know For A Healthy Crypto Investment

    Easy Ways To Enhance Your Crypto Earnings

  • Blockchain
    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Crypto Loans

    4 Essential Benefits Of Crypto Loans

    Blockchain Security

    Why Blockchain Security Is Good For You

    Blockchain Technology

    Blockchain Technology Explained

    VC Funding For Blockchain

    3 Proofs That Blockchain Will Soon Revolutionize Mortgage Lending

    Blockchain Could Help Advertisers

    The Blockchain Could Help Advertisers Lock Up Our Attention

    Blockchain Technology

    How Blockchain Technology Is About To Transform Sharemarket Trading

    Deloitte's 2020 Global Survey

    Deloitte’s 2020 Global Survey: Blockchain Becomes Top Strategic Priority For Majority Of Organizations

    VC Funding For Blockchain

    Top Blockchain-Based Security Solutions In 2020

  • E-Commerce
    Great Marketing Practices Every E-Commerce Store

    3 Great Marketing Practices Every E-Commerce Store Should Use

    Grow Your eCommerce Business

    4 Ways To Grow Your eCommerce Business

    E-commerce Website Development

    Top Tips For Your E-commerce Website Development Process

    How To Make Money With Dropshipping

    How To Make Money With Dropshipping

    Digital Marketing For Ecommerce

    The Value In Investing In Digital Marketing For Ecommerce

    16 Best eCommerce Software Platforms For Online Business

    16 Best eCommerce Software Platforms For Online Business

    ecommerce ideas

    6 Things To Consider When You are Running an E-Commerce Business

    3dcart- ecommerce Platforms

    Best e-Commerce Software Platforms For Online Business

  • Lifestyle
    Hoboken apartments

    Family-Friendly Activities In The Tri-State Area

    Harry Potter Costume

    The Best Harry Potter Costumes To Bring Your Magical Fantasies To Life

    fun things to do on birthday

    10 Amazing Things You Must Do On Your Birthday

    Better Hair Quality

    Women Need A Better Hair Quality All The Time

    Is Your Office Job Killing You Slowly

    Is Your Office Job Killing You Slowly?

    Healthy Work-Life Balance

    Top Tips To Maintain A Healthy Work-Life Balance

    arbie Sole Tattoo

    Barbie Sole Tattoo Trends Blowing Up On Instagram

    Dumbest Fashion Trends In History

    From Muslin Dresses To Corsets: 17 Dumbest Fashion Trends In History

    How to apply foundation in the best way

    How To Apply Foundation In The Best Way?

  • Inbound Marketing
    • All
    • Content Marketing
    • Email Marketing
    Perfect PowerPoint Presentation

    How To Create The Perfect PowerPoint Presentation

    Grow Your Email List

    8 Actionable Ways (Tested) To Grow Your Email List In 2022

    Competitive Analysis

    A Complete Guide On Competitive Analysis For Beginners

    EDM Marketing

    How EDM Marketing Is Different From Email Marketing? Which One Is Better?

    The State of Digital Marketing in Bangkok

    The State Of Digital Marketing In Bangkok

    Meme Marketing

    Meme Marketing – Why Are Brands Smiling About It

    Better Content Marketing

    Top 14 Essential Tips For Better Content Marketing

    Email open rates

    Personalization In Email Marketing: How To Increase Email Open Rates?

    Tech Blogging: An Era Ends? Or, A New Begining!

    Blog Strategy For Sustainable Content Marketing Business

  • Online Marketing
    • All
    • Mobile Marketing
    • Search Engine Marketing
    • Search Engine Optimization
    • Social Media Marketing
    Social Media Messaging

    Did You Know You Can Manage All Your Social Media Messaging In One Place?

    How Stergo Media Populous SEO, PPC, And SMM

    Leading The Way With Innovation: How Stergo Media Populous SEO, PPC, And SMM

    Digital Marketing Trends

    Top 7 Digital Marketing Trends In 2022

    Marketing Videos

    Why Should You Add Video Collages To Your Marketing Videos?

    Digital Marketing Hacks

    Digital Marketing Hacks 101 For Small Business Entrepreneurs

    Community For Your Business’s B2B Marketing

    How To Build And Use Your Community For Your Business’s B2B Marketing

    Digital Marketing Channels

    Best 5 Digital Marketing Channels For Your Brand In 2022

    Knowing the SEO Basics

    Knowing The SEO Basics

    SMS Marketing Mistakes to Avoid

    SMS Marketing Mistakes To Avoid

  • Software
    Salesforce: How Does It Work

    BigQuery To Salesforce: How Does It Work?

    Scheduling A Painless Job

    Top 10 All-In-One Automated Platforms That Make Scheduling A Painless Job

    Invalua

    Ivalua Alternatives 2022: 10 Best Spend Management Software

    Booket

    Booket Alternatives 2022: 10 Best Salon Management Software

    Recruitment Assessment Tools

    Harver Tool Alternatives 2022: 10 Best Recruitment Assessment Tools

    Wordtune

    Wordtune Alternatives 2022: 10 Great AI-Powered Writing Tools

    Eduflow

    Eduflow Alternatives 2022: 10 Best Learning Management Solutions

    Payroll process

    This Is How You Can Make The Payroll Process More Strategic And Organized

    Best HR Software

    How To Choose The Best HR Software For Your Work?

No Result
View All Result
Technology | Software Reviews | Product Reviews | Internet Marketing
No Result
View All Result
Home Small Business

Jio Payments Bank, A JV Of Reliance And SBI, To Commence Operations In December: Sources

March 18, 2022
in Small Business, Start UPs, Tech
Jio Payments Bank, A JV Of Reliance And SBI, To Commence Operations In December: Sources
Share on FacebookShare on Twitter

If The Launch Goes As Planned, Jio Payments Bank Will Be The Country’s Fifth Operational Payments Bank

Jio Payments Bank, a joint venture between Reliance Industries Ltd (RIL) and SBI, is gearing up to commence operations by December this year. The Mukesh Ambani-owned conglomerate originally scheduled the launch in October when it opened bookings for its 4G-enabled Jio Phone.

If the launch goes as planned, Jio Payments Bank will be the country’s fifth active payments bank after Airtel, Paytm, India Post, and Fino Payments Bank.

Commenting on the development, a source in the know said, “The payments bank was expected to launch its operations in October. The launch got delayed as the RBI had asked them to demonstrate its capabilities to ensure it is ready for a glitch-free launch. The launch will now be in December.”

Jio Payments Bank is a 70:30 joint venture between RIL and the government-run State Bank of India. A Jio official close to the development said requesting anonymity, “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 sustain-ably maintained.”

Through the partnership, SBI is looking to leverage Reliance Jio’s telecom network to connect last-mile customers, especially in the country’s un-banked rural areas. In exchange, Reliance Jio will have access to SBI’s wide customer base across the country.

As of April 1 this year, SBI had a total of 420 Mn customers. Reliance Jio, on the other hand, boasts a user base of around 129 Mn, as per a report by the Cellular Operators Association of India (COAI).

Priced at $22.9 (INR 1,500), Reliance Jio Phone allows users to link the device for UPI-based payments. As per a report by Livemint in September, the company was planning to start deliveries of the 4G handsets firm in rural and semi-urban regions, before moving on to urban areas. Since October, more than 6 Mn Jio Phones have been booked for delivery.

In 2016, the RBI offered its in-principle nod to 11 entities for establishing payments bank operations in the country. RIL was one of them. Among the 10 other entities that received RBI’s nod were Cholamandalam Distribution Services Ltd, Tech Mahindra Ltd, Dilip Sanghvi (founder of Sun Pharmaceuticals Ltd) and National Securities Depository Limited.

Paytm was initially planning for a launch around Diwali last year, in November 2016. However, Airtel beat Paytm to become the first payments bank in the country to go live. The pilot of its Payments Bank Limited (“Airtel Bank”) commenced in Rajasthan. Later in January 2017, Airtel finally began operations in 29 states. It currently offers the highest interest rate of 7.25 % p.a. on deposits in savings accounts.

India Post too opened its payments bank in January 2017. The first two branches of the bank were opened in Ranchi and Raipur. The bank’s interest rates range between 4.5% and 5.5% on deposits up to $775-$1.5K( INR 50K-INR 1 Lakh).

In the first week of June, payments bank licensee Fino Paytech received approval from RBI, for a nine-member-board. It received the final nod from RBI on March 31, 2017, to start the payments bank. As per an official statement, the company claims to have 28 Mn active banking customers spread across urban and rural areas. It provides a range of financial services including savings, remittance, insurance, credit etc.

Around the same time, it was reported that Aditya Birla Group was planning to launch its payments bank through the newly formed Aditya Birla Financial Services. Sushil Agarwal, Whole-Time Director and Group CFO, Grasim Industries confirmed the development, given the fact that Idea recently merged with Vodafone, one of the entities will eventually surrender its licence post merger and tie-up ABFS.

While Paytm reported losses of around $4.6 Mn (INR 30.7 Cr) between August 2016 and March 2017, Airtel Payments Bank recently bolstered its digital platform with the integration of UPI, as part of a move aimed at enhancing customer convenience and also ensuring secure digital payments.

Once launched, the Jio Payments Bank will likely leverage the wide customer base of both SBI and Reliance Industries Ltd to strengthen its presence in the country’s payments bank space.

Previous Post

Lenskart Invests $1 Million In US-based 3D Tech Startup “Ditto”

Next Post

It’s Official, Windows Phone Is ‘DEAD’

Related Posts

QR Code Queue System
Tech

QR Code Queue System: How It Helps To Reduce Long Queues At Your Business?

January 27, 2023
Create A Tutorial Video Content
Tech

Create A Tutorial Video Content In Minutes

January 26, 2023
Identity Verification
Tech

Identity Verification: How Well Are You Doing?

January 9, 2023
How You Can Grow Your Business
Small Business

How You Can Grow Your Business In 2023

January 2, 2023
Small Business Grow
Small Business

Essential Tips To Help Your Small Business Grow In 2023

December 28, 2022
Become A Successful Business Owner
Small Business

9 Tips For Becoming A Successful Business Owner

November 10, 2022
What Is A VPN And How Does It Work
Tech

What Is A VPN And How Does It Work?

September 28, 2022
Tools For Microsoft Data Protection And Security
Tech

Top 10 Software Solutions And Tools For Microsoft Data Protection And Security

September 19, 2022
cloud based access control system
Tech

How Do Access Control Systems Work?

September 14, 2022
Next Post
It’s Official, Windows Phone Is ‘DEAD’

It's Official, Windows Phone Is 'DEAD'

Recent Posts

QR Code Queue System

QR Code Queue System: How It Helps To Reduce Long Queues At Your Business?

January 27, 2023
Dog’s Nutritional Needs

Understanding Your Dog’s Nutritional Needs

January 27, 2023
Create A Tutorial Video Content

Create A Tutorial Video Content In Minutes

January 26, 2023
Working With Your Malpractice Lawyer

Tips For Working With Your Malpractice Lawyer

January 26, 2023
Identity Verification

Identity Verification: How Well Are You Doing?

January 9, 2023

Get Updates

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Loading

Disclosure

We sometimes use affiliate links in our content. This won’t cost you anything but it helps us to offset the costs of paying our writing team. Thanks for your support!

About Witszen

Witszen-logo

Follow Us

Useful Links

  • Home
  • Affiliate Disclosure
  • Contact Us

Browse by Category

Get Updates

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Loading
  • Home
  • Affiliate Disclosure
  • Contact Us

© 2022 Witszen

No Result
View All Result
  • Home
  • Tech
  • Fintech
  • Blockchain
  • E-Commerce
  • Lifestyle
  • Inbound Marketing
  • Online Marketing
  • Software

© 2022 Witszen