Banks / Jio Payments Bank
Banks / Jio Payments Bank
MD & CEO, Jio Payments Bank. Exact date of appointment/reappointment was not confirmed with certainty in the sources reviewed for this profile — verify current tenure dates on the official website or MCA filings before citing them.
Day-to-day operations sit with the MD & CEO, while Vivek Bhandari serves as the non-executive Chairperson of the Board. This is a governance role distinct from the MD & CEO position.
For account, KYC and transaction queries — always confirm the current email on the official Contact Us page before use.
9:00 AM – 9:00 PM, all days (as published) — for balance enquiries, transaction issues and card/account support.
Under its RBI Payments Bank licence (2014 Payments Bank Guidelines), Jio Payments Bank is legally prohibited from issuing loans, credit cards, or any other credit/lending product of its own — it cannot function as an NBFC. Any lending marketed through the wider JioFinance app (personal loans, loan against mutual funds, etc.) is distributed on behalf of separately licensed lending partners — including group NBFC Jio Financial Services and its partners — and is not extended by Jio Payments Bank itself. The bank's own activities are limited to deposits (subject to the RBI per-customer deposit cap), payments/remittances, and distribution of third-party insurance and investment products as a corporate agent.
As a Payments Bank, Jio Payments Bank cannot offer traditional fixed or recurring deposits the way universal banks do — it can only pay interest on the savings account daily balance, subject to the RBI deposit cap. Its published savings-account rate was cut from 3.5% to 2.5% p.a. around June 2025. Rates below are fetched live from the official site where possible; otherwise the last published rate is shown.
Jio Payments Bank Limited is a wholly-owned, unlisted subsidiary of Jio Financial Services Limited (NSE/BSE: JIOFIN) — it does not file standalone quarterly results with SEBI/stock exchanges the way a listed bank does. Unlike Airtel Payments Bank, JFSL's public investor communications have not, in the sources reviewed for this profile, broken out a clean multi-year revenue/profit/deposits table specifically for Jio Payments Bank as a distinct reporting segment. A clean 4-year financial table in the format used for other banks on this site is therefore not available — the figures below are the limited data points found in press coverage and should not be treated as a substitute for JFSL's own filings.
| Metric | Value (as reported) | As of / Source period |
|---|---|---|
| Customer Base | 25 lakh+ customers | ~June 2025 (press reports) |
| Deposit Base | Over ₹358 Cr | ~June 2025 (press reports) |
| SBI Stake Buyout Value | ~₹104.5 Cr for SBI's 17.83% stake (7.91 Cr shares) | June 2025 |
| RBI Penalty (regulatory history) | ₹1 Cr, for delay in MD/CEO reappointment approval application | October 2020 |
| Standalone Revenue / Net Profit / NPA / CRAR | Not available in sources reviewed | — |