https://indianpedia.org/index.php?action=history&feed=atom&title=Jio_Payments_BankJio Payments Bank - Revision history2026-07-31T05:47:28ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Jio_Payments_Bank&diff=409182&oldid=prevCleanupBot II at 07:49, 14 August 20232023-08-14T07:49:10Z<p></p>
<p><b>New page</b></p><div>{{short description|Indian payments bank}}<br />
{{update|date=June 2021}}<br />
{{Use Indian English|date=July 2020}}<br />
{{use dmy dates|date=July 2020}}<br />
{{Infobox company<br />
| name = Jio Payments Bank<br />
| logo = Jio-pay.svg<br />
| logo_size = 250px<br />
| logo_caption = <br />
| image = <br />
| image_size = <br />
| image_caption = <br />
| type = [[Private company|Private]]<br />
| industry = [[Financial services]]<br />
| fate = <br />
| predecessor = <!-- or: | predecessors = --><br />
| successor = <!-- or: | successors = --><br />
| founded = {{Start date and age|2018|04|03|df=yes}}<br />
| founder = [[Mukesh Ambani]]<br />
| defunct = <!-- {{End date|YYYY|MM|DD}} --><br />
| hq_location = [[Navi Mumbai]]<br />
| hq_location_city = <br />
| hq_location_country = [[India]]<br />
| area_served = [[India]]<br />
| key_people = {{plainlist|<br />
*[[Vivek Bhandari]]<br>{{small|([[Chairperson]])}}<br />
*Srikrishnan H<br>{{small|([[Managing director|MD]] & [[Chief executive officer|CEO]])}}}}<br />
| services = {{plainlist|<br />
*[[Banking]]<br />
*[[Payment bank]]<br />
*[[Digital wallet]]<br />
*[[Bank account]]<br />
}}<br />
| parent = [[Reliance Industries]]<br />
| num_employees = <br />
| num_employees_year = <!-- Year of num_employees data (if known) --><br />
| owner = {{Unbulleted_list|[[Reliance Industries]] (70%)|[[State Bank of India]] (30%)}}<br />
| website = {{url |https://www.jiopaymentsbank.com/}}<br />
}}<br />
<br />
'''Jio Payments Bank''' is an Indian [[payments bank]], which started operating in 2018 and is owned by [[Reliance Industries]]. Reliance Industries was granted an in-principle approval by the [[Reserve Bank of India]] (RBI) to establish a new payments bank under the Banking Regulation Act, 1949. It then partnered with the [[State Bank of India]] and incorporated Jio Payments Bank Limited in November 2016. Jio Payments Bank Limited is a 70:30 partnership between Reliance Industries and State Bank of India.<ref>{{cite news|title=Jio Payments Bank|url=https://www.businesstoday.in/sectors/banks/jio-payments-bank-account-payment-paytm-airtel-sbi-reliance/stor/274064.html|access-date=5 April 2018|agency=www.businesstoday.in}}</ref><br />
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==History==<br />
On August 19, 2015 [[Reliance Industries]] received a license to run a payments bank from the [[Reserve Bank of India]] under Section 22 (1) of the [[Banking Regulation Act, 1949]]. On November 10, 2016 it registered as a public limited company to set up a payments bank. On April 3, 2018 Jio Payments Bank became the sixth payment bank to commence operations in India.<ref name="Jio Payments Bank">{{cite news|title=Jio Payments Bank begins its operations|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/jio-payments-bank-begins-its-operations/articleshow/63608498.cms|access-date=5 April 2018|agency=economictimes.indiatimes.com}}</ref><br />
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In October 2020, the [[Reserve Bank of India]] imposed a penalty of {{INRConvert|1|c|0}} on the bank for not applying for the re-appointment of Managing Director & CEO in time, under Section 35B of the [[Banking Regulation Act, 1949]].<ref>{{cite news |title=Jio Payments Bank fined Rs 1 cr for delay in submitting MD's reappointment application |url=https://www.businesstoday.in/sectors/banks/jio-payments-bank-fined-rs-1-cr-delay-submitting-md-reappointment-application/story/420282.html |publisher=[[Business Today (India)|Business Today]] |date=October 29, 2020}}</ref><br />
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==References==<br />
{{Reflist}}<br />
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==External links==<br />
<br />
*{{url|www.jiopaymentsbank.com|Official site}}<br />
<br />
{{Banking in India}}<br />
{{Reliance Industries Limited}}<br />
{{SBI}}<br />
<br />
[[Category:Indian brands]]<br />
[[Category:Payments banks]]<br />
[[Category:Banks based in Mumbai]]<br />
[[Category:Private sector banks in India]]<br />
[[Category:Reliance Industries]]<br />
[[Category:Jio Payments Bank]]<br />
[[Category:Mobile payments in India]]<br />
[[Category:2018 establishments in Maharashtra]]<br />
[[Category:Indian companies established in 2018]]<br />
[[Category:Payment service providers]]<br />
[[Category:Jio]]</div>CleanupBot II