Reliance Jio to be launched in the market by December, says Mukesh Ambani

Mumbai: Reliance Jio, the telecommunication subsidiary of Reliance Industries Ltd will launch its commercial operations by December this year. While addressing the company’s 41st annual general meeting of shareholders, chairman Mukesh Ambani said that his company would initiate an extensive beta launch involving millions of friendly customers across all markets. This beta programme will be upgraded into commercial operations around December this year.

“The combination of Jio’s strong initiatives and a supportive global environment, gives me the confidence that we will see 4G prices below Rs 4,000 by December of this year,” he said and added that his company has followed an integrated business strategy and Reliance Jio is capable of offering unique combination of telecom, high speed data, digital commerce, media and payment services. Mr Ambani listed out various applications that his firm would be unveiling in the coming days.

Among them include Switch-and-Walk, which lets users seamlessly copy everything from their old phone to new phone, Jio Money, a digital payment platform and and Jio Drive, a could-based solution.“It is the ideal solution for even our smallest merchants, such as kiranas, restaurants, and taxi drivers. No additional device is needed and they will be able to accept payments using just their phone,” Mr Ambani added. Jio Money digital wallet will allow consumers the option of opening digital bank account or linking their existing account. RIL has partnered with SBI to apply for the payment banks license.