"The payments bank was expected to launch its operations in October".
The reason for this delay in the launch of Jio Payments Bank is Reserve Bank of India (RBI), who asked Jio Payments Bank to demonstrate its capabilities and make sure that the system is devoid of any glitches at the time of launch. "The launch will now be in December", said the first of the three persons cited above on condition of anonymity. Since October, more than 6 Mn Jio Phones have been booked for delivery. "The demonstrations are being made to assure the regulator that the standards of customer service will be sustainably maintained", the official added. Spokespersons of SBI and RIL did not respond to e-mails seeking details. Reliance Jio continues to leads in terms of download speeds, followed by Vodafone, Idea, and Airtel, with the recorded average 4G speed up marginally from last month.
"For SBI, Jio Payments Bank will operate as a business correspondent. SBI will have immediate access to Jio customers in unbanked rural areas". As per a report by Livemint in September, the company was planning to start deliveries of the 4G handsets firm in rural and semi-urban regions, before moving on to urban areas.
Airtel's average upload speed for the same reporting period was 6.6 Mbps and Idea Cellular, Reliance Jio and BSNL offered upload data speed of 6.3 Mbps, 4.2 Mbps and 1.8 Mbps respectively. To note, Reliance Jio has already started delivering the JioPhone to the consumers. However, new customers will also have to subscribe to Jio Prime which costs an additional Rs. 99. Moreover, Vodafone is also offering cheaper plans, including a Rs. 250 plan in which the user gets 1 GB/day for 70 days along with free calls. Having started its operations in September previous year, Reliance Jio had about 129 million customers as of 31 August, according to a report by Cellular Operators Association of India (COAI).