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Jana Small Finance Bank(JSFL) Launched "Smart Gold" for Easy Digital Gold Investment.

Banking & Finance | Dated: 17 Nov 2024

Mumbai (Maharashtra)-based Jio Financial Services Limited (JFSL), registered with Reserve Bank of India (RBI) as a non-deposit taking Non-Banking Financial Company (NBFC), has launched "Smart Gold", a digital gold investment platform which will be accessible through the JioFinance application (app).

🎯 Key Highlights:

  • - This new offering will enable customers to purchase 24-Karat (K) physical gold anytime, with a minimum amount of Rs 10.
  • - Customers can buy, sell, or redeem their gold holdings either in cash or physical gold coins and jewelry, ensuring a seamless and secure investment experience.
  • - Customers can also buy smart gold in denominations of rupees or grams (gms).

💡 Other Important Facts:

  • (i) The underlying physical gold of the customer will be procured and stored in insured vaults. Customers can monitor the live market price of gold on the JioFinance app, promoting transparency in their investments.
  • (ii) Jio Payment Solutions Limited (JPSL), a wholly-owned subsidiary of Jio Financial Services (JFS), has received approval from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA). The certificate of authorisation came into effect from 28th October 2024.

📚 Test Your Knowledge:

Recently, which bank launched "Smart Gold" for easy digital gold investment?

Correct Answer: JSFL

🚀 Quick Recap:

About Jio Financial Services Limited (JFSL)

  • CEO : Hitesh Kumar Sethia
  • Headquarters : Mumbai