Jio Payments Bank may launch in December

Jio Payments Bank is likely to start its operations in December. It is a 70:30 joint venture between Mukesh Ambani-owned RIL and SBI. As per the report, the launch was expected in October but it got delayed as the RBI had asked Jio payment bank to demonstrate its capabilities to ensure it is ready for a glitch-free launch. Jio Payments Bank, if launched then it would be the country’s 5th payments bank to start its operations.