Reliance Jio, SBI tie up for digital banking service


YONO’s digital banking features and solutions will be enabled through the MyJio app, and Jio Prime will offer exclusive deals from Reliance Retail and Reliance Jio. Photo: Aniruddha Chowdhury/Mint

YONO’s digital banking features and solutions will be enabled through the MyJio app, and Jio Prime will offer exclusive deals from Reliance Retail and Reliance Jio. Photo: Aniruddha Chowdhury/Mint

Mumbai: Reliance Jio and State Bank of India (SBI), have tied up with to provide a platform offering digital banking, commerce, and financial services to customers.

RIL and SBI already have a 70:30 joint venture, the Jio Payments Bank.

Wirh regard to the current tie up, services would be provided through Yono (you only need one), a digital banking app launched by the SBI.

Yono’s digital banking features and solutions will be enabled through the MyJio app for customers, RIL said in a press statement, adding that Jio Prime will offer exclusive deals from Reliance Retail, Jio, partner brands, and merchants.

“The scale of the SBI customer base is unmatched globally. Jio is committed to using its superior network and platforms combined with the retail ecosystem to accelerate digital adoption serving all the needs for SBI’s and Jio’s customers,” said Mukesh Ambani, Chairman, RIL said.

SBI, on the other hand, said it will be engaging Jio as one of its preferred partners for designing and providing network and connectivity solutions.

“Jio’s network in urban and rural regions will allow SBI to launch customer-centric services such as video banking and other on-demand services. Additionally, Jio Phones will be available on special offers for SBI customers,” said SBI in a press statement.



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