Jio Financial Services Limited's (JFSL) subsidiary, Jio Payments Bank Limited (JPBL), has announced a significant change in its digital presence. The bank has updated its official website domain name in compliance with guidelines issued by the Reserve Bank of India (RBI). This move underscores JPBL's commitment to maintaining high standards of security and transparency in the digital banking sphere.

Key Changes

• New Domain: www.jiopayments.bank.in
• Previous Domain: www.jiobank.in

Customers and stakeholders are advised to use the new domain for all official communications and to access JPBL's online banking services.

About Jio Payments Bank

JPBL, incorporated in November 2016, is positioned as a next-generation, digital-first bank aiming to revolutionize banking in India. The bank offers a comprehensive suite of services catering to diverse financial needs:

Jio Financial Services Ecosystem

JPBL is part of the larger Jio Financial Services Limited ecosystem, which includes:

• Jio Credit Limited
• Jio Insurance Broking Limited
• Jio Payment Solutions Limited
• Jio Leasing Services Limited
• Jio Finance Platform and Service Limited

JFSL has also entered into strategic partnerships:

1. A 50:50 joint venture with BlackRock for asset management, wealth management, and broking services.
2. A 50:50 joint venture with the Allianz Group to offer reinsurance services, pending regulatory approvals.

Digital-First Approach

JFSL is committed to enhancing the financial well-being of Indian citizens through its digital-first model. The JioFinance app offers a wide range of solutions, including:

• Loans
• Savings accounts
• UPI transactions
• Bill payments and recharges
• Digital insurance
• Financial tracking and management tools

This domain change reflects JPBL's ongoing efforts to align with regulatory guidelines while continuing to provide secure and innovative digital banking solutions to its customers.

Jio Financial Services Limited (JFSL) has reported a robust financial performance for the second quarter, marking significant growth across its diverse portfolio of financial services.

Strong Financial Performance

JFSL's consolidated total income for Q2 stood at Rs. 1,002.00 crores, representing a substantial 44% year-on-year increase. The company's net income from business operations grew five-fold to Rs. 317.00 crores, accounting for 52% of consolidated net total income, excluding dividend and finance costs on external borrowings.

Key Financial Highlights

Business Segment Performance

Jio Credit Limited (NBFC)

• Assets Under Management: Rs. 14,712.00 crores (12x growth YoY)
• Quarterly Disbursements: Rs. 6,624.00 crores
• Net Interest Income: Rs. 140.00 crores (142% growth YoY)
• Profit After Tax: Rs. 50.00 crores (62% increase YoY)

JioBlackRock Asset Management

• Assets Under Management: Rs. 15,980.00 crores (in just 4 months since launch)
• Launched 9 funds, including the JioBlackRock Flexi Cap Fund

Jio Payment Solutions

• Transaction Processing Volume: Rs. 13,566.00 crores (167% growth YoY)

Jio Payments Bank

• Customer Base: 3 million (doubled YoY)
• Business Correspondent Network: Expanded to 200,000 touchpoints
• Deposits: Rs. 421.00 crores (doubled YoY)

Strategic Developments

1. Digital User Base: JFSL has reached approximately 18 million unique users across its digital platforms.

2. Product Innovation: Launched industry-first solutions including BlackRock's Systematic Active Equity (SAE) approach for mutual funds and 'Savings Pro' account by Jio Payments Bank.

3. Distribution Expansion: Serving customers from over 19,000 pin codes across India.

4. Capital Infusion: Received the first tranche of Rs. 3,956.00 crores from promoter warrant subscription.

5. Joint Ventures: Incorporated Allianz Jio Reinsurance Limited, a 50:50 joint venture with Allianz Group for reinsurance.

Future Outlook

JFSL is focusing on intelligent personalization in financial services, leveraging AI and machine learning to offer tailored solutions. The company is well-positioned for growth with its strong capital base and diverse portfolio of financial services.

Mr. Hitesh Sethia, MD & CEO of Jio Financial Services Limited, commented, "We have demonstrated that growth and prudence can co-exist – scaling rapidly, while remaining anchored in risk discipline and governance excellence."

As JFSL continues to expand its offerings and reach, it aims to democratize access to finance for the people of India, delivering innovative and best-in-class financial products and services.