So, finally after lots of leaks ans rumors Reserve Bank of India finally approves Reliance Jio's Payments Bank. The official operation already started from 3 April'2018. The Reserve Bank issued licence under the section of 22(1), which is comes under the Banking Regulation Act of 1949.
Airtel Payments Bank & Paytm Payments Bank one of the big players in the industry are already operating in this segment. Now we have to see how Reliance Jio approaches the users.
Their is no confirmation from Reliance Jio about the launch date and offers. But we expect to here that very soon. Not only that we are expecting some exciting launch offers also from Reliance Jio.
Note : Jio send messages to all the Jio Money useres stated that " Jio Money will be merged with Jio Payments bank as soon as it started".