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Jio Bank Plans to 'Auto-Invest' Idle Funds of Customers in MFs
Mint Ahmedabad
|August 29, 2025
The Jio Payments Bank is mulling the introduction of an offering which will auto-invest customers' idle deposits in overnight mutual funds for higher returns, a top official said on Thursday.
Addressing shareholders at the annual general meeting, Jio Financial Services' managing director and chief executive Hitesh Sethia said the company, which has partnered with global brands like BlackRock for asset management and Allianz for insurance in the past, will be entering more "strategic tie-ups" to expand its portfolio.
The Jio Payments Bank was serving over 2.5 million customers and had a deposit base of over ₹358 crore as of June this year. Payments banks are aimed at offering payments and remittances to customers, and have restrictions including a ₹2 lakh cap on the maximum permissible deposits.
Dit verhaal komt uit de August 29, 2025-editie van Mint Ahmedabad.
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