Reliance Jio Payment Bank: Everything You Need To Know About Jio Bank in India
Reliance Jio Payment Bank: Arriving Soon in India After Airtel Payment Bank.Jio Payment Bank, Is Jio Payment Bank Launched; Well, yesterday is the most awaiting and exciting day for all Jio users, as yesterday Mukesh Ambani announched Jio Happy New Year Offer in place of Jio Welcome Offer 2 and confirmed that yes all services are free till 31st March 2017.
Reliance Jio Payment Bank
: Reliance Jio Payment Bank Launched, Yesterday i.e. on 1 December 2016, Mukesh Ambani announced Reliance Jio Happy New Year Offer. With this new offer Jio will continue to provide Free Internet, Calls, SMS and other services till 31st march 2017. that they will extend their Free services. Initially Jio offer Free Internet till 31st December under Jio Welcome offer and Now they have extended the same under Jio Happy New Year Offer.
According to Mukesh Ambani, Jio is the fastest growing company which grown up faster than even giants like Facebook, WhatsApp & Skype. In spite of all that he also ensured that Jio will try to improve their services more actively.
Now, another news is in trend that Jio might lanuch Jio’s first Payment Bank in India soon, to make this India digital & also to compete with India’s first payment bank of Airtel.
Jio Payment Bank Arriving Soon
Jio is insisting India people to being Digital with the help of PM Modi note banning decision. That’s why they are always shouting for being digital.
There’s nothing wrong in this, Indian people are still very slow and bit far from high end common technologies.
Jio already preferred to use JioMoney app for making payments but apart from that they are also planning to launch Jio Payment Bank in India soon.
According to reports, RBI ( Reserve Bank of India ) permitted 11 companies to offer conventional banking service in August 2015 and Reliance Industries is one of them. So, it might be possible that they will use this permission by launching Payment Bank in India.
What are Payment Banks?
To those who do not know, I would like to tell you what exactly Payment banks are? Payment Banks are a new form of Banks model of banks modeled by the Reserve Bank of India (RBI). They will work mainly on Mobile Phones rather than Traditional Bank branches.
Which Are The Payment Banks of India?
Reserve Bank of India has granted ‘in principle’ approval for payment banks to 11 entities. All of them are given on the basis of their profitability and future prospect in finances.
- Aditya Birla Nuvo Ltd
- Airtel M Commerce Services Ltd
- Cholamandalam Distribution Services Ltd
- Department of Posts
- Fino PayTech Ltd
- National Securities Depository Ltd
- Reliance Industries Ltd
- Dilip Shantilal Shanghvi
- Vijay Shekhar Sharma
- Tech Mahindra Ltd
- Vodafone m-pesa Ltd
How Much Money Can Deposit in Payment Banks?
You can deposit a maximum of Rs. 1 Lakh in your Payment Bank account. It works same as the saving bank account.
How Can I Use Payment Banks?
Payment banks are really easy to use. All you need to get their mobile app and signup through your Mobile Number. Now, You can use these wallets to make daily transactions on essentials and your daily needs. This will somewhat works like Paytm Wallet.
How Are Payment Banks Helpful?
Yes, For a common man Payment banks will be very useful and helpful. Using Payment banks would surely help in reducing the number of Debit card frauds. As, Payment banks hold only less money, this would surely reduce the chances of fraudulent activities.
Can Payment Banks Offer Loans?
This is one of the most frequently asked question about Payment banks. To this I would like to tell that, No, Payment banks can not offer loans or cedit cards to anyone. Furthermore, Payment Banks can only accept upto Rs. 1 Lakh and give interest on them.
Can Payment Banks Offer ATM Cards?
Yes, Payment Banks can issue Debit Cards and ATM cards. These Cards can be used on ATM (Automated Teller Machine) of all Banks.
Can Payment Banks Provide Forex Cards?
Yes, Payment Banks can provide Forex Cards to travellers. The forex cards offer by Payment Banks can be used same as TM/Debit cards in all the ATMs in India. They can provide froex services at lower charges than traditional banks.
JioMoney, you get great deals, coupons, and cash back offers directly on your mobile phone from neighborhood merchants. You can also transfer the Jio Money Balance to your Bank account at ease.
Very soon, JioMoney will be accepted by thousands of physical stores across India. For Now, Make use of the Jio Money offers, use the JioMoney Promo Codes at merchant sites and save some money.
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