Jio Payments Bank, a wholly-owned subsidiary of Jio Financial Services Limited has introduced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints, marking an important step towards strengthening India’s digital payments ecosystem and advancing financial inclusion in the country. The feature enables customers, particularly in rural and semi-urban areas, to conveniently withdraw cash by simply scanning a UPI QR code and authorizing the transaction through their UPI application, eliminating the need for debit cards or access to traditional ATM infrastructure.
By enabling cardless cash withdrawals at BC touchpoints, the initiative bridges the gap between digital payments and physical cash access, while providing first-time digital users with an assisted and secure way to experience UPI transactions.
Through this initiative, JPBL continues to leverage the digital payments infrastructure and its last-mile BC network to expand accessible banking services, strengthen UPI's reach among cash-dependent segments, and enhance financial inclusion across rural and semi-urban India.
Payments Bank Limited (JPBL) is a next-generation, digital-first bank committed to revolutionizing banking in India. Granted approval by the Reserve Bank of India under the Banking Regulation Act, 1949, JPBL was incorporated in November 2016 to offer secure, simple, and inclusive banking solutions for every Indian. Its suite of offerings is designed to meet the diverse financial needs of individuals and businesses alike.
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