Jio Payments Bank and Ezeepay Tie Up for Rural Banking
Why in the news
Jio Payments Bank has teamed up with Ezeepay so that people in rural and semi-urban areas can use basic banking services closer to home.
Key facts
- Partners: Jio Payments Bank and Ezeepay.
- Target area: rural and semi-urban India.
- Services: AEPS-based cash withdrawal and deposit, plus UPI cash withdrawal.
- Delivery model: Ezeepay merchants act as banking correspondents.
- Aim: better last-mile financial access and deeper digital banking use.
Significance
- Merchants as banking correspondents bring services to places lacking branches.
- Supports financial inclusion goals and digital banking penetration.
Exam angle
- Remember the pair: Jio Payments Bank with Ezeepay.
- Full form to revise: AEPS (Aadhaar Enabled Payment System).
- Related terms: banking correspondent, last-mile access, financial inclusion.