Check jio payment bank Zero Balance Account – Jio Financial Services Share Price, Sound Box
jio payment bank Zero Balance Account
The Reserve Bank of India (RBI) gave Reliance Industries Limited the green light to start a new Payments Bank under the Banking Regulation Act, 1949. Reliance then joined forces with the State Bank of India to make this happen. They created Jio Payments Bank Limited in November 2016.
Reliance has a strong history of success in various businesses, and they see the Payments Bank project as a big opportunity. They want to make a positive impact on India’s financial inclusion efforts by providing easy and affordable banking services to everyone, especially those who have been left out of the traditional banking system. Their goal is to make digital payments more common and help move towards a cashless society.
Eligibility for Jio Payments Bank Account :
– Any Indian resident above 18 years of age is eligible to open a Jio Payments Bank account.
Account Maintenance :
Minimum Balance Requirement : There is no minimum balance requirement for a Jio Payments Bank account.
Charges and Fees : No charges or fees are associated with using a Jio Payments Bank account.
Penalties for Inactivity : There are no penalties for inactivity in a Jio Payments Bank account.
Documentation and Account Features
Required ID Proofs : Aadhaar Card and PAN Card are required for opening a Jio Payments Bank account.
Linking Other Bank Accounts : Other bank accounts can linked using Jio UPI or Debit/Credit Card.
Account Security :
– Account access requires a password and mPIN, ensuring security even if the phone is lost.
– Authentication at outlets is done via fingerprint.
– IT systems comply with PCI DSS standards for secure data storage.
Safety Measures : Funds remain secure even if the registered mobile number is lost, as access requires biometric or mPIN details.
Acquiring Jio UPI Handle :
– A Jio UPI handle is provided upon opening a Jio Payments Bank account.
– Custom Jio UPI handle can defined during account opening.
Accessibility and Device Requirements :
– Opening a Jio Payments Bank account does not require a Jio number.
– Operating a Jio Payments Bank account is possible without a smartphone, with services available at outlets.
Account Services : Jio Payments Bank does not issue debit cards for savings accounts.
Freezing Account : Account freezing can initiated by calling the hotline number at 18008907070.
Accessing Account Digitally :
– The MyJio application provides digital access to Jio Payments Bank services via the Bank tab.
– MyJio app is compatible with Android 6.0 and above and iOS 13.4 and above.
Jio Payments Bank Prepaid Instruments :
What is Jio Payments Bank Prepaid Instruments (PPI) ?
– Jio Payments Bank Prepaid Instruments offer a secure method for digital payments across various channels, both online and offline.
– Services include instant bill payments, mobile/DTH recharges, and payments at numerous online and physical stores.
Benefits of Jio Payments Bank PPI :
– Conduct secure cash-free transactions from anywhere at any time.
– Store credit/debit card details securely for faster and more convenient payments.
– Make payments online and in-store across a wide range of merchants.
– Pay bills and recharge mobile/DTH services conveniently through a single app.
– Access great offers, deals, and coupons from top brands and neighborhood stores.
Eligibility and Registration For Jio Payments Bank PPI :
– Indian citizens aged 18 years and above, residing in India, are eligible to open a Jio Payments Bank PPI account.
– Customers with a valid mobile number registered with any telecom operator can sign up for Jio Payments Bank PPI.
Account Types and Usage :
– Jio Payments Bank PPI currently offers a minimum KYC account, allowing monthly loads and spends up to certain limits.
– Fund transfers to another person or bank account are not permitted with this account.
– Monthly Load: ₹10,000
– Yearly Load: ₹1,20,000
– Outstanding Amount: ₹10,000
– Credit Card Load Limit: ₹5,000
Transactions and Fees :
– There are no charges for using Jio Payments Bank PPI.
– Load up to ₹10,000 per month and ₹1,20,000 per financial year into the PPI.
– Credit card loads limited to ₹5,000 per month.
– There is no expiry date for Jio Payments Bank PPI accounts.
Security and Support :
– Even in case of a lost phone, account access remains secure with password and mPIN authentication.
– Contact customer support at 18008907070 (toll-free) or [email protected] for assistance.
Additional Features and Services :
– Pay for Jio services, utility bills, online purchases, and charity donations using Jio Payments Bank PPI.
– Make payments at nearby stores, malls, restaurants, and other establishments.
– Receive confirmation via SMS and email, with transaction details available in the passbook section of the app.
Account Management for jio payment bank
– Reset your mPIN through the “Forgot your mPIN” option on the MyJio app.
– Check your account balance on the home screen upon logging into your account.
– View past transactions in the passbook section of the app’s Bank Tab.
Profile Management – Update your registered email ID from the profile section within the Bank Tab of the MyJio app.
JIO FINANCIAL SERVICES LIMITED (INE758E01017) :
STRENGTHS of the service : The company exhibits strengths such as consistent quarterly growth in recent results, a steady increase in net profit accompanied by rising profit margins quarter over quarter, and maintaining a low level of debt.
| Information | Value |
|---|---|
| 52 Week High (18-Apr-2024) | 384.40 |
| 52 Week Low (25-Aug-2023) | 202.80 |
| Upper Band | 454.05 |
| Lower Band | 302.75 |
| Price Band | 20 |
| Daily Volatility | 2.07 |
| Annualised Volatility | 39.55 |
| Information | Value |
|---|---|
| Traded Volume (Lakhs) | 395.16 |
| Traded Value (₹ Cr.) | 1,471.84 |
| Total Market Cap (₹ Cr.) | 2,35,071.51 |
| Free Float Market Cap (₹ Cr.) | 1,19,886.47 |
| Impact cost | 0.04 |
| % of Deliverable / Traded Quantity | 43.08 % |
| Applicable Margin Rate | 16.72 |
| Face Value | 10 |
| Information | Value |
|---|---|
| Status | Listed |
| Trading Status | Active |
| Date of Listing | 21-Aug-2023 |
| Adjusted P/E | Not Available |
| Symbol P/E | Not Available |
| Sectoral Index | Not Available |
| Basic Industry | Non Banking Financial Company |
Everything you need to know about Video KYC Process :
– Video KYC enables instant bank account opening through online verification, eliminating the need for branch visits.
– Customers can complete the KYC process via a video call with a bank executive.
Steps Involved in Video KYC :
– Fill out online details and initiate video interaction with a bank agent.
– Follow agent’s instructions and provide necessary documents, such as PAN/Aadhaar card, for verification.
Advantages of Video KYC : Entire account opening process from home, offering zero-contact service.
Aadhaar Requirement : Aadhaar number mandatory for OTP verification during the video KYC process.
Eligibility and Participation : Existing Jio Money (PPI) or new Jio Payments Bank customers can participate in the video KYC process.
Process Execution and Support :
– Video KYC conducted via MyJio App interface or through a web browser link.
– Support available via email for technical issues.
All about using Jio UPI ID :
Non-Bank Customer Payments :
– Payment can made using Jio UPI ID even without being a Jio Payments Bank customer.
Validity and Continuation :
– Jio Financial Service account has no expiry date once created.
– Ability to continue using Jio UPI ID even after closing Jio Payments Bank account.
Linking Bank Accounts :
– Bank accounts linked to the logged-in numbers can linked to Jio UPI ID.
Service Management :
– UPI services for Jio Payments Bank account can blocked without closing Jio Financial Service, by contacting Customer Service.
Count of Transactions per Day :
| Details | Pay or Collect – Acceptance : Collect Initiation | |
|---|---|---|
| Person to Person | 20 Transactions per day : No Limit | |
| Person to Merchant | 5 Transactions per day : Not Applicable | |
Amount of Transactions per Day :
| Transaction Type | Cooling Period – After Cooling Period | Capital Markets / Insurance – IPO |
|---|---|---|
| Person to Person | Total of Rs. 5000 from the 1st transaction up to 24 hours – 1 lakh | NA – NA |
| Person to Merchant | Total of Rs. 5000 from the 1st transaction up to 24 hours – 1 lakh |
2 lakhs per Transaction & 2 lakhs per Transaction – 5 lakhs per Transaction & 15 lakhs per day |
Account and ID Limits :
Limit on Linked Bank Accounts : No limit on the number of bank accounts that can linked to Jio UPI ID.
Creation Limit for UPI IDs : Maximum of three Jio UPI IDs can created simultaneously.
Recreation and Deletion :
– UPI ID can recreated only after a 2-year period from the date of deletion.
– Deactivation of UPI ID possible through Profile in the MyJio App.
Transaction Viewing :
– All successful transactions can viewed in the Passbook under the UPI tab option in the MyJio App.
Official Website >> jio payment bank >> jiobank.in
- jio payment bank Zero Balance Account
- Eligibility for Jio Payments Bank Account :
- Account Maintenance :
- Account Security :
- Acquiring Jio UPI Handle :
- Accessibility and Device Requirements :
- Accessing Account Digitally :
- Jio Payments Bank Prepaid Instruments :
- What is Jio Payments Bank Prepaid Instruments (PPI) ?
- Benefits of Jio Payments Bank PPI :
- Eligibility and Registration For Jio Payments Bank PPI :
- Account Types and Usage :
- Transactions and Fees :
- Security and Support :
- Additional Features and Services :
- Account Management for jio payment bank
- JIO FINANCIAL SERVICES LIMITED (INE758E01017) :
- Everything you need to know about Video KYC Process :
- Steps Involved in Video KYC :
- All about using Jio UPI ID :
- Non-Bank Customer Payments :
- Validity and Continuation :
- Linking Bank Accounts :
- Service Management :
- Count of Transactions per Day :
- Amount of Transactions per Day :
- Account and ID Limits :
- Recreation and Deletion :
- Transaction Viewing :
- Official Website >> jio payment bank >> jiobank.in