Jio Payments Bank Introduces UPI-Based Cash Withdrawal Services
Mumbai, March 17, 2026: Jio Payments Bank Limited (JPBL), a wholly-owned subsidiary of Jio Financial Services Limited, has launched UPI-based cash withdrawal services through its Business Correspondent (BC) touchpoints. This initiative aims to strengthen India's digital payments ecosystem and advance financial inclusion, particularly in rural and semi-urban areas.The new feature allows customers to withdraw cash by scanning a UPI QR code and authorizing the transaction through their UPI application, eliminating the need for debit cards or traditional ATM infrastructure.
JPBL states the initiative bridges the gap between digital payments and physical cash access, providing a secure way for first-time digital users to experience UPI transactions. The company is leveraging its digital payments infrastructure and last-mile BC network to expand accessible banking services, strengthen UPI's reach among cash-dependent segments, and enhance financial inclusion.
About Jio Payments Bank Limited
Jio Payments Bank Limited (JPBL) is a digital-first bank committed to revolutionizing banking in India. It was incorporated in November 2016 and operates under the Banking Regulation Act, 1949.About Jio Financial Services Limited
Jio Financial Services Limited (JFSL) is a Core Investment Company registered with the Reserve Bank of India. JFSL operates a full-stack financial services ecosystem through its subsidiaries, including Jio Credit Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, Jio Leasing Services Limited, Jio Finance Platform and Service Limited, and Jio Payments Bank Limited.JFSL has a 50:50 joint venture with BlackRock for asset management and wealth management services through Jio BlackRock Asset Management Private Limited and Jio BlackRock Investment Advisers Private Limited, with proposed broking services to follow. Additionally, JFSL has a 50:50 joint venture with the Allianz Group to offer reinsurance services in India through Allianz Jio Reinsurance Limited.
Through the JioFinance app, customers can access a range of solutions including loans, savings accounts, investment products, UPI, bill payments, recharges, digital insurance, and financial management tools.
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