December 2nd, 2016 3:45 AM 3 COMMENTS

RIL-SBI’s Jio Payments Bank incorporated 2 days after the note ban: Report

Reliance Industries Limited (RIL) and State Bank of India’s payments bank, Jio Payments Bank, came into existence on November 10 just two days after the Indian government announced the decision to discontinue Rs 500 and Rs 1,000 currency notes, the Indian Express reported, citing documents filed with the Registrar of Companies (RoC). The joint venture was given an in-principle approval for the payments bank in September 2015 by the Reserve... Read More

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