Jio Payments Bank introduces UPI-based cash withdrawal services

Jio Payments Bank Limited (JPBL), a wholly-owned subsidiary of Jio Financial Services Limited has introduced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints, marking an important step towards strengthening India's digital payments ecosystem and advancing financial inclusion in the country.

The feature enables customers, particularly in rural and semi-urban areas, to conveniently withdraw cash by simply scanning a UPI QR code and authorizing the transaction through their UPI application, eliminating the need for debit cards or access to traditional ATM infrastructure.

By enabling cardless cash withdrawals at BC touchpoints, the initiative bridges the gap between digital payments and physical cash access, while providing first-time digital users with an assisted and secure way to experience UPI transactions.

Through this initiative, JPBL continues to leverage the digital payments infrastructure and its last-mile BC network to expand accessible banking services, strengthen UPI's reach among cash-dependent segments, and enhance financial inclusion across rural and semi-urban India.

Shares of Jio Financial Services Limited was last trading in BSE at Rs. 237.60 as compared to the previous close of Rs. 234.20. The total number of shares traded during the day was 476573 in over 4458 trades.

The stock hit an intraday high of Rs. 238.65 and intraday low of 234.25. The net turnover during the day was Rs. 112750558.00.

Source : Equity Bulls

Keywords

JioFinancialServices INE758E01017 NBFC JioPaymentsBank BCTOuchpoints UPIbased CashWithdrawal