Reliance Jio has entered into a MoU with State Bank of India (SBI) to expand their digital partnership and provide a platform offering digital banking, commerce, and financial services to customers. It has to be noted that Jio and SBI are joint partners in the Jio Payments Bank, with Reliance holding a 70% stake and the public sector lender owning the remaining 30%. Jio Payments Bank commenced operations in April this year. The expanded partnership will result in Jio’s ‘MyJio’ application offering SBI’s YONO (You Only Need One) digital banking app, over and above the Jio Payments Bank, the statement said. The partnership will see the telco providing SBI customers with special offers to purchase the Jio Phone, and at the various Reliance Retail outlets. SBI will also have an opportunity to increase its online reach by enabling its customers access to Jio’s online content. Moreover,…
