Indiaherald Group of Publishers P LIMITED

close save
crop image
Thu, Jan 17, 2019 | Last Updated 6:02 am IST

Menu &Sections


Jio Payments Bank makes a joint venture between RIL & SBI

Jio Payments Bank makes a joint venture between RIL & SBI
Jio Payments Bank makes a joint venture between RIL & SBI

According to sources after disrupting the telecom and broadband industries in India, the next thrust area for Reliance in is reportedly Jio Payments Bank. Meanwhile before launching the payments bank, it is leveraging its massive manpower strength of 100,000 employees to test out the business and hence the company had followed a similar method when it had launched its mobile phone service, Jio around three years back.

Accordingly Jio Payments Bank is a joint venture between State Bank of India, India’s largest public sector bank and Reliance Industries Limited, India’s largest private sector company, on a 30:70 partnership. Meanwhile this was one of the 8 licenses that the RBI issued, some of the others being Airtel, Paytm and Fino Payment Banks.

Jio Payments Bank makes a joint venture between RIL & SBI

Furthermore some of the mutually beneficial outcomes of this association between SBI and RIL are: the much advertised YONO platform of SBI has been already integrated with Reliance Jio with the My Jio app, Jio Prime, the customer loyalty programme offered by Jio will be offered to the SBI customers too and so on. Also SBI Rewardz, the loyalty program offered by SBI will also be integrated with Jio Prime. Moreover there may be benefits to Reliance in its digital technology business in which it is quite aggressive, since SBI may offer some business to Reliance Jio to develop its communication and digital network.

Jio Payments Bank makes a joint venture between RIL & SBI
5/ 5 - (1 votes)
Add To Favourite
More from author
Why YS Jagan Sister made a complaint with Hyderabad Police?
Mahesh Kathi comes with another controversy with Pawan Kalyan
Trump ordered American feast of burgers for visiting football team
Telugu comedian Brahmanandam undergone bypass surgery
AK Sikri declines joining commonwealth tribunal!
Kodanadu estate case investigation in peaks!
UP minister's tells people to burn politicians!
Supreme Court notice to central govt!
A Judge partially blocked a set of Trump administration rules
Follow Indian Traditions Leave Western Lifestyles: Venkaiah Naidu
Unresolved differences between Kanchi Seer and Mahatma Gandhi continues
Cockpit Voice recorder of Lion Air Jet found
Modi said BJP worker is driven by National Interest & not by any self-interest
KCR plans that will last generations
RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India
TNSTC announced it will operate an additional 14,263 services for Pongal
Modi calls DMK as the biggest enemy!
Terrorists killed in early morning encounter!
Dinakaran Vs Anbazhagan catches fire!
Tehelka editor reveals shocker!
Ivanka Trump, Nikki Haley for US candidates to World Bank President's Post
Why TDP & Congress not going together in the elections?
International Youth Leadership Conference to be inaugurated by Anna Hazare
CM Yogi Adithyanath confident about BJPs performance in 2019
Edappadi denied allegations against him in Kodanad break in case
Powerful Explosion in Paris killed 3
Which players will replace Hardik & Rahul?
KCR to waive Toll Tax for commuters on NH Roads for Sankranti
KCR in mood to finish TDP in Telangana
US stocks closed lower as United States Government shutdown
Will Akhila Priya quit TDP?
Arun Jaitley announces increasing GST exemption limit for Garment Exporters
Donald Trump declared national emergency over immigration at southern border
Dhoni does it for special fan!
Vatal Nagaraj plans violently for dam!
Godman turns murder convict!
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.