Jio Payments Bank Limited Commences Operations

Posted on:05 Apr 2018 09:47:06
Jio Payments Bank Limited Commences Operations
05 April 2018 Current Affairs: Jio Payments Bank Limited commenced operations as a payments bank.

The Reserve Bank has issued a license to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India.

Reliance Industries Limited, Mumbai was one of the 11 applicants which were issued an in-principle approval for setting up a payments bank.

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