Reliance Jio is just spreading its hand on different businesses. The company is already giving a tough competition to all the major telecom operators. Then it also launched its digital payments system called Jio Money. And now, it’s forwarding it’s one more step towards the digital economy. According to a Gadgets360 report, RIL Chairman Mukesh Ambani is likely to launch the Jio Payments Bank in this December 2017.
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Jio Payments Bank Will Be A Powerful Competitor
Bharti Airtel has already entered in this market segment. And Paytm is also another tough participant in this business. Both Paytm and Reliance Jio has huge customer base compared to Bharti Airtel’s payments bank. So, it is obvious that the competition will be tougher for Airtel as it has lesser customers in its base.
Mukesh Ambani wanted to launch Jio payments bank this July with the shipment of Jio Phones. But in the meantime, Reserve Bank Of India asked for proofs to RJio to make sure that Jio Payment bank will be fully compliant with the rules and regulations of Reserve Bank Of India.
Open a Savings Account in Jio Payments Bank
Opening a savings or current account in Jio payments bank will be very easy as Aadhaar card is commonly enough to sign up for this. Reliance Jio has also tried to reach the rural areas of India to provide their Jio Phone. So, they are also going to be the subscriber of RJio. Then Jio will invite them also to join or create an account in Jio Payments Bank.
Currently, Reliance Jio has over 120 million users its subscriber base. The number is pretty huge, and if Reliance Jio starts sending invites to all their customers, definitely a huge number of the customer will sign up from day one. Let’s see what happens in the near future. To get more stuff like this, subscribe to our push notifications by clicking on the bell icon in the corner.