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Jio Payments Bank begins ops

Mukesh Ambani-led Reliance Industries started the operations of its Jio Payments Bank.

Reliance Industries was one of the 11 applicants that were given in-principle approval by the Reserve Bank of India for starting the payments bank.

As per the RBI rules, a payments bank is permitted to accept a restricted deposit and that is currently limited to Rs 1 lakh per depositor.

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