Jio Payments Bank

Jio Payments Bank Limited

Type| Subsidiary
Industry| Financial services
Founded| 3 April 2018; 8 years ago (2018-04-03)
Founder| Mukesh Ambani
Headquarters| Navi Mumbai,

India

Area served

| India

Key people

* Vivek Bhandari
(Chairperson)
* Vinod Easwaran
(MD & CEO)

Services|

* Banking
* Payment bank
* Digital wallet
* Bank account

Owner| Jio Financial Services (JFSL)[1]
Website| www.jiopayments.bank.in

Jio Payments Bank Limited is an Indian payments bank, it started operating in 2018 and is currently a subsidiary of Jio Financial Services, which was initially owned by Reliance Industries but was listed separately on stock exchanges in 2023.

## Contents

* 1 History
* 2 Controversies
* 3 References
* 4 External links

## History

On 19-August-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. It then partnered with the State Bank of India and incorporated Jio Payments Bank Limited in November 2016. Jio Payments Bank Limited is an 82.17:17.83 partnership between Reliance Industries and the State Bank of India.[2]

On 10-November-2016, it registered as a public limited company to set up a payments bank. On 03-April-2018, Jio Payments Bank became the sixth payments bank to commence operations in India.[3]

In March 2024, it was reported that they were working on releasing a soundbox product for merchants, which would allow them to be notified whenever a customer pays and scans the QR code on the box and then through UPI.[4]

State Bank of India initially held a 17.8% stake in Jio Payments Bank Limited, which was set up as a joint venture with Jio Financial Services Limited. In June 2025, JFSL bought out SBI's stake, acquiring 7.91 crore shares and taking full ownership of the payments bank.[5][6]

## Controversies

In October 2020, the Reserve Bank of India imposed a penalty of ₹1 crore (US$140,200) on the bank for not applying for the re-appointment of Managing Director and CEO in time, under Section 35B of the Banking Regulation Act, 1949.[7]

## References

1. ↑ Kumar, Shivendra (18 June 2025). "Jio Financial Services takes full control of Jio Payments Bank with Rs 104.5 crore SBI stake buy". https://economictimes.indiatimes.com/markets/stocks/news/jio-financial-services-takes-full-control-of-jio-payments-bank-with-rs-104-5-crore-sbi-stake-buy/articleshow/121931287.cms?from=mdr.
2. ↑ "Jio Financial to Acquire SBI's 17.83% Stake in Jio Payments Bank for ₹104.5 Crore". www.indiainfoline.com. https://www.indiainfoline.com/news/business/jio-financial-to-acquire-sbis-17-83-stake-in-jio-payments-bank-for-104-5-crore.
3. ↑ "Jio Payments Bank begins its operations". Economic Times. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/jio-payments-bank-begins-its-operations/articleshow/63608498.cms.
4. ↑ "Jio Payments Entry Into Soundbox Segment To Create Huge Competition For Paytm, Phonepe" (in en). 12 March 2024. https://www.india.com/business/jio-payments-entry-into-soundbox-segment-to-create-huge-competition-for-paytm-phonepe-6781355/.
5. ↑ Kumar, Shivendra (2025-06-18). "Jio Financial Services takes full control of Jio Payments Bank with Rs 104.5 crore SBI stake buy". The Economic Times. ISSN 0013-0389. https://economictimes.indiatimes.com/markets/stocks/news/jio-financial-services-takes-full-control-of-jio-payments-bank-with-rs-104-5-crore-sbi-stake-buy/articleshow/121931287.cms?from=mdr.
6. ↑ "Jio Financial takes full ownership of Jio Payments Bank" (in en). 2025-06-18. https://www.fortuneindia.com/business-news/jio-financial-takes-full-ownership-of-jio-payments-bank/124162.
7. ↑ "Jio Payments Bank fined Rs 1 cr for delay in submitting MD's reappointment application". Business Today. 29 October 2020. https://www.businesstoday.in/sectors/banks/jio-payments-bank-fined-rs-1-cr-delay-submitting-md-reappointment-application/story/420282.html.

## External links

* Official website

* v
* t
* e

Banking in India

Central bank|

* Reserve Bank of India

Public sector banks|

* Allahabad Bank
* Andhra Bank
* Bank of Baroda
* Bank of India
* Bank of Maharashtra
* Canara Bank
* Central Bank of India
* Corporation Bank
* India Post Payments Bank
* Indian Bank
* Indian Overseas Bank
* Oriental Bank of Commerce
* Punjab & Sind Bank
* Punjab National Bank
* State Bank of India
* Syndicate Bank
* UCO Bank
* Union Bank of India
* United Bank of India

State sector banks|

* Jammu & Kashmir Bank

Private sector banks|

* Axis Bank
* Bandhan Bank
* Catholic Syrian Bank
* City Union Bank
* DCB Bank
* Dhanlaxmi Bank
* Federal Bank
* HDFC Bank
* ICICI Bank
* IDBI Bank
* IDFC First Bank
* IndusInd Bank
* Karnataka Bank
* Karur Vysya Bank
* Kotak Mahindra Bank
* Lakshmi Vilas Bank
* Nainital Bank
* RBL Bank
* South Indian Bank
* Tamilnad Mercantile Bank Limited
* Yes Bank

Foreign banks|

* ABN AMRO
* Abu Dhabi Commercial Bank
* Antwerp Diamond Bank
* Australia and New Zealand Banking Group
* Bank Maybank Indonesia
* Bank of America
* Bank of Bahrain and Kuwait
* Bank of Ceylon
* The Bank of Tokyo-Mitsubishi UFJ
* Barclays
* Citibank India
* Credit Suisse
* DBS Bank
* Deutsche Bank
* HSBC
* Rabobank
* Royal Bank of Scotland
* Scotiabank
* Standard Chartered

Small finance banks|

* AU
* Capital
* ESAF
* Equitas
* Fincare
* Jana
* North East
* Suryoday
* Ujjivan
* Utkarsh

Payments banks|

* Aditya Birla
* Airtel
* Fino Payments Bank Limited
* NSDL Payments Bank Limited
* India Post
* Jio
* Paytm

| Surrendered Licencees|

* Sun Pharmaceuticals
* Tech Mahindra

|

Cooperative banks|

* District Co-operative Central Bank

* Buldhana Urban
* Cosmos Bank
* Mizoram Co-operative Apex Bank
* Rajkot Nagrik Sahakari Bank
* Repco Bank
* Saraswat Bank
* Shamrao Vithal Co-operative Bank
* TNSC Bank

Regional Rural Banks|

| Other|

* Andhra Pradesh Grameena Vikas Bank
* Andhra Pragathi Grameena Bank
* Assam Gramin Vikash Bank
* Bangiya Gramin Vikash Bank
* Gramin Bank of Aryavart
* Kerala Gramin Bank
* North Malabar Gramin Bank
* Mizoram Rural Bank
* Pallavan Grama Bank
* Pandyan Grama Bank
* Paschim Banga Gramin Bank
* Sarva UP Gramin Bank
* South Malabar Gramin Bank
* Uttar Bihar Gramin Bank
* Uttarakhand Gramin Bank
* Vananchal Gramin Bank

|

Uttar Pradesh|

* Allahabad UP Gramin Bank
* Gramin Bank of Aryavart
* Sarva UP Gramin Bank

Defunct banks|

* Alliance Bank of Simla
* Arbuthnot & Co
* Bank of Chettinad
* Bank of Hindostan
* Bank of Madura
* Bank of Rajasthan
* Bengal Central Bank
* Chartered Bank of India, Australia and China
* Commercial Bank of India
* Dass Bank
* Exchange Bank of India & Africa
* Industrial Investment Bank of India
* Lord Krishna Bank
* Madhavpura Mercantile Cooperative Bank
* Mercantile Bank of India, London and China
* Nath Bank
* Nedungadi Bank
* New Bank of India
* Oriental Bank Corporation
* Oudh Commercial Bank
* Palai Central Bank
* Pandyan Bank
* United Industrial Bank
* United Western Bank

| Merged|

* Dena Bank
* State Bank of Bikaner & Jaipur
* State Bank of Hyderabad
* State Bank of Indore
* State Bank of Mysore
* State Bank of Patiala
* State Bank of Saurashtra
* State Bank of Travancore
* Vijaya Bank

|

Rescued|

* Global Trust Bank

Acquired|

* Bharatiya Mahila Bank
* Bharat Overseas Bank
* Centurion Bank of Punjab
* Dena Bank
* Grindlays Bank
* ING Vysya Bank
* National Bank of India

Renamed|

* Bank of Bombay
* Bank of Calcutta
* Bank of Madras
* Imperial Bank of India

Networks|

| Interbank networks|

* Cirrus
* NFS
* PLUS

|

ATM networks|

* BANCS
* Cashnet
* MITR

Electronic funds transfers|

* BBPS
* IMPS
* NEFT
* RTGS
* UPI
* AEPS
* BHIM

Cards|

* MasterCard
* Debit MasterCard
* Maestro
* RuPay
* Visa
* Visa Debit
* Visa Electron
* Visa payWave

Related topics|

* ATM usage fees in India
* De-Materialisation (DEMAT)
* Foreign Exchange (FOREX)
* Indian Financial System Code (IFSC)
* List of banks in India
* NUUP
* Prepaid Payment Instruments in India

| Protocol|

* BBPS
* Structured Financial Messaging System (SFMS)

|

Institutes|

| Think Tanks|

* BBB
* BCSBI
* NCPI
* IBA
* IDRBT

|

Speciality banks|

* SIDBI
* NABARD
* NHB
* EXIM
* IIBI

Payment service|

* Atom
* BHIM
* BillDesk
* CCAvenue
* Google Pay
* Zeta India

| Digital wallets|

* Amazon Pay
* Freecharge
* Mobikwik
* Oxigen Services
* Payoneer
* Paytm
* PayU
* Payworld
* PhonePe

|

Template:Reliance Industries Limited Template:SBI

0.00

(0 votes)

Original source: https://en.wikipedia.org/wiki/Jio Payments Bank. Read more

|

Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Jio_Payments_Bank&oldid=3847579"
*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template