Mumbai: Jio Payments Bank Limited (JPBL), 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.
About Jio Payments Bank  Limited
Jio 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.  
About Jio Financial Services Limited: 
Jio Financial Services Limited (JFSL) is a Core Investment Company (CIC) registered with the Reserve Bank of India. As a new-age institution, JFSL operates a full-stack financial services ecosystem through customer-facing 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.
Through a 50:50 joint venture with BlackRock, JFSL offers asset management services in India through Jio BlackRock Asset Management Private Limited; and wealth management through Jio BlackRock Investment Advisers Private Limited. The JV with BlackRock also proposes to offer broking services through Jio BlackRock Broking Private Limited. 
JFSL has entered into a 50:50 joint venture with the Allianz Group and has set up Allianz Jio Reinsurance Limited to offer reinsurance services in India. The two entities have also signed a non-binding agreement to explore opportunities in general and life insurance. 
With a digital-first model, JFSL is committed to enhancing the financial well-being of Indian citizens by enabling them to borrow, transact, save, and invest seamlessly. Through the JioFinance app, customers can access a wide range of solutions including loans, savings accounts, investment products and solutions, UPI, bill payments, recharges, digital insurance, financial tracking and management tools, and more.