Posts Tagged ‘Mukesh Ambani’

RIL Collaborates with Resysta International to Produce Natural Wood Alternative in India

April 28, 2017

On 26th April 2017, Mukesh Ambani-led Reliance Industries Limited (RIL) entered into a license agreement with Germany-based Resysta International GmbH. With this partnership, RIL bagged exclusive rights of production as well as marketing of a Natural Fiber Polymer Composite (NFPC), RelWood™, in India.

The Partnership

According to the Chief Operating Officer (COO) of Petrochemicals, RIL, Mr. Vipul Shah, with the strategic agreement with Resysta, RIL is planning to exclusively produce the RelWood™ compound so as to meet the growing demand for a real alternative to tropical wood.

He believes that the partnership indicates RIL’s dedication towards sustainable projects based on innovative technology. He added that along with the top German innovator Resysta, RIL is looking forward to offering a technologically advanced product as the alternative to real wood to the Indian consumers.

About Resysta

Located near Munich, Germany, Resysta International GmbH was established in 2011. It is a privately-headed technology company which co-operates with top industry partners around the world to leverage the huge potential of the exclusive Resysta material in its various wood replacement applications.

Resysta successfully developed a water and weather-resistant material which portrays the look and feel of wood. Moreover, the fully recyclable material is procured using a renewable resource, does not rot over a long duration, and is unaffected by termites.

It also has the capability to withstand the sun, wind, and salt water. The innovative material was required to combat the shrinking rainforests crisis as well as address the substandard quality of wood composite products that were used earlier.

This is based on a unique technology through which natural fiber is dispersed within the polymer matrix. Owing to the partnership, RIL will be using RelWood™ as the raw material for producing sheets and different profiles utilized in a large number of replacement applications of wood and plywood. The initiative will help prevent deforestation and offer water-resistant, durable, and recyclable raw material to Indian consumers.

CEO speaks

The Chief Executive Officer (CEO) of Resysta International, Bernd Duna, stated that currently, Resysta is licensing its technology across the globe. According to him, RIL is Resysta’s perfect partner for India. He believes that the local manufacturing of Resysta Compound will enable the products to become easily available and more environmentally friendly. Since RIL is a leading manufacturer of petrochemicals in India, it is ideally poised to manufacture at par with Resysta’s high global standard. In partnership with RIL, Resysta looks forward to continuing its success story in India, he added.

About RIL

The largest Indian private sector company, RIL, has a consolidated turnover of INR 330,180 crore and a net profit of INR 29,901 crore for the financial year 2016-17.

Moreover, RIL is the first Indian private sector company to make it to Fortune’s Global 500 list of ‘World’s Largest Corporations’. Currently, RIL is on the 215th rank with regard to revenues, and 126th rank with regard to profits.

Mukesh Ambani led RIL also ranks 238th in the FT Global 500 list (2015) of world’s largest companies by Financial Times. Furthermore, RIL stands at the 21st position on the Forbes Global 2000 list (2016). RIL’s businesses include petroleum refining and marketing, hydrocarbon exploration and production, retail, petrochemicals, and 4G digital services.

Summary

RIL went into a partnership with Germany-based Resysta International to manufacture an innovative alternative to natural wood in India.

Reliance Industries Commissioned World’s Largest Ethane Plant in Record Time

April 21, 2017

On 19th April 2017, Mukesh Ambani-led Reliance Industries Limited (RIL) announced that it has started the ethane plant at its Dahej manufacturing facility in Gujarat. The company completed the construction of the largest and most complex plant in the world in record time by spending USD 1.5 billion.

Statements from RIL

In a statement released, the company said that it is pleased to announce the flawless and successful completion of its ethane project at the Dahej manufacturing facility in Gujarat. It also said that it has begun ethane cracking, and ethane receiving and handling facilities at the plant in less than three years, which is a record time.

RIL stated that the successful start-up shows the company’s capacity to create a world-scale infrastructure with the help of complex technologies. The company added that the execution of this project at such a large scale is first-of-its-kind in the world.

RIL said that the supply of ethane will offer feedstock security and flexibility. It will let the company choose the most optimal feed mix depending on market conditions.

The statement further mentioned that this will improve the cost competitiveness of the company’s present crackers and let RIL optimize its portfolio in a volatile market environment.

Transportation of ethane from the US

Natural gas ethane is produced in abundance in North America because of the shale gas revolution. The revolution has generated cooking gas, Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG) in large quantities. In the past five years,  North America’s shale gas industry has witnessed a phenomenal growth and this has reduced ethane prices.

RIL will import ethane from North America in large quantities and use it in its cracker as feedstock to make petrochemicals. The company has planned to transport 1.5 million tons of ethane every year from its shale joint ventures in the United States (US) to its manufacturing plant in Gujarat. Ethane is mainly used as a petrochemical feedstock. It makes ethylene by the process of steam cracking.

Mukesh Ambani led RIL has two joint ventures in Marcellus Shale of Pennsylvania. One of its joint ventures is with Chevron. The company has made an investment of USD 1.7 billion for this. Its other joint venture is with Carrizo Oil & Gas. For this, RIL has made an investment of USD 392 million.

The entire process chain began from securing ethane refrigeration capacity in Gulf Coast in the US. The next step was delivering dedicated Very Large Ethane Carriers (VLECs) to ship ethane to the West Coast of India from the US Gulf Coast. The VLECs later transported liquefied ethane to the Dahej terminal in Gujarat.

RIL constructed ethane receipt and handling facilities at its manufacturing plants in Dahej, Nagothane, and Hazira. The construction included setting up of pipelines and upgrading of crackers to receive ethane. The liquefied ethane received in Dahej will be used to supply feedstock for crackers in RIL’s Dahej, Nagothane, and Hazira manufacturing facilities.

Summary

RIL completed the construction and commissioned the largest ethane plant in the world in a record time at its Dahej manufacturing facility.

Mukesh Ambani on Why Reverse Brain Drain is Necessary

April 11, 2017

The Chairman of Reliance Industries Limited (RIL), Mukesh Ambani expressed his views on different subjects at the India Today Conclave held in March 2017. 

Mukesh Ambani’s views on reverse brain drain

Mukesh Ambani supported the policies of the United States (US) President Donald Trump and stated that a reverse brain drain is bound to happen. He said that the brightest and best brains should now work to benefit the country and Indians. According to Mr. Ambani, the world is entering the fourth Industrial Revolution and it is also the first technological revolution that will have an impact on us.

He believes that if Indians working outside are brought back, then India will be blessed and its developmental pace will escalate. Mukesh Ambani also believes that all the things in the world happen at the right place and at the right time.

He informed that every month, RIL brings back at least two to three leaders from across the world. He said that people always remain Indian from their heart and they want to come back home. RIL gives them an opportunity for this, he added. 

Mukesh Ambani’s views on Narendra Modi

At the conference, Mukesh Ambani praised Prime Minister (PM) Narendra Modi for his demonetization and digitization drives.

He said that demonetization has converted unproductive money to productive money and brought it to use. It has also enabled the country to move from a cash economy to a digitally enabled optimal cash economy. He believes that currently, India is performing well and has a promising future.

Mukesh Ambani said that India today has a potential leader which would help it lead the industrial revolution. He feels that the country has a leader who understands the world and technology along with understanding his people.

Mukesh Ambani was impressed by PM Narendra Modi when he visited the US. The Indian Prime Minister joined the then US President Barack Obama for dinner and they only discussed how technology would help to develop the poor in a country.

Mukesh Ambani’s views on technology

Speaking of the industrial revolution, Mukesh Ambani said that technology will play a significant role in the revolution. He believes that technologies like cloud computing, robotics, nanotechnology, mobile Internet, artificial intelligence, and genomics will be the foundation of this revolution.

Mukesh Ambani said that in today’s technological world, it takes a fraction of a second for information to travel all around in digital form. According to him, technology is a leveller as it does not discriminate on the basis of caste, creed, and religion.

Mukesh Ambani feels that India has the ability to lead the industrial revolution. He stated five reasons for this. They are India’s majority of the youth population, a wide scope for technological infrastructure, citizens connected to the global Internet, large and an open market, and an ambitious leader.

He believes that India’s street smartness and the global technology will form an unbeatable combination to enable the country to lead the digital revolution. He revealed that post the launch of Reliance Jio, India became the highest data consumer in the world in just 170 days and said that Jio will be connecting 58,000 schools and colleges to overcome the challenges of education in India.

Summary

At the India Today Conclave 2017, Mukesh Ambani expressed his views on reverse brain drain, technology, and digitization, and praised Prime Minister Narendra Modi.

Reliance Jio Collaborates with AT&T and The Linux Foundation for the ONAP Project

April 5, 2017

The telecom arm of Reliance Industries, Reliance Jio Infocomm led by Mukesh Ambani has joined hands with the US-based telecom operator American Telephone & Telegraph Company (AT&T) and The Linux Foundation. Reliance Jio will be working with open source communities via the Open Network Automation Platform (ONAP) project as a Platinum member. The collaboration will enable Jio to propel innovation in the telecom industry in areas of software-defined networking (SDN) and network functions virtualization (NFV).

Reliance Jio’s association with ONAP

ONAP is the fastest-growing open networking initiative as it has unified open source community members and industry leaders from Europe, North America, and Asia.

President of Reliance Jio, Mathew Oommen expressed his delight over the collaboration with the ONAP community. He stated that Reliance Jio’s assets and resources in the association will help to make telecom a cloud-centric digital platform. Developers, customers, and partners will then be able to contribute and add value to the platform, he added.

Reliance Jio has established an excellent all-Internet Protocol (IP) network with 4G Long Term Evolution (LTE) technology. Jio is the only network that supports Voice over LTE (VoLTE) technology and has been established as a mobile video network from the ground up. Jio’s pan-India 4G network has made the company, the largest data carrier in the world.

Jio’s involvement in the ONAP project proves its dedication towards network transformation. Through open source network, the company aims to move beyond its all-IP and 4G LTE network technologies. The open source program will assist Jio in offering quick, innovative and affordable services across wireless and wireline technologies.

Mathew Oommen also said that Jio will be an active participant in the ONAP initiative and this will enhance its delivery, management, and service creation.

About ONAP

ONAP is a joined project and one of the largest open source programs, created in February 2017. The project is operated by The Linux Foundation’s Open Orchestrator Project (OPEN-O) and AT&T’s Enhance Control, Orchestration, Management & Policy (ECOMP). The initiative lets open source community developers and software, cloud and network providers to work together in an open ecosystem, thus encouraging innovative services.

ONAP project has members like AT&T, China Mobile, Nokia, China Telecom, Tech Mahindra, ZTE, Cisco, Ericsson, VMware, GigaSpaces, Bell Canada, Huawei, Amdocs, IBM, Orange, and Intel, among others. Reliance Jio became the first Indian telecom operator to join ONAP.

Chris Rice, the Chairperson of ONAP and Senior Vice President of AT&T Labs said that ONAP is excited to have Reliance Jio as a member. The company will help ONAP to expand its global reach. He further stated that ONAP aims to make and promote a robust networking automation community with Jio’s support.

Mukesh Ambani led Reliance Jio is establishing global centers of excellence and offering resources for new initiatives. Its association with ONAP will expedite the process and support The Linux Foundation in future service innovations and developments.

Summary

Reliance Jio collaborated with The Linux Foundation and AT&T for the Open Network Automation Platform (ONAP) project to drive innovation in the telecom industry.

Most Jio Users Happy with the Speed, Prime Members to Receive Cashback Offers

March 24, 2017

Mukesh Ambani led Reliance Jio has established itself as a major telecom brand after only a few months of its launch. The network operator’s services have been positively received by the masses, making it a leading brand in terms of customer base.

Jio’s cashback option for Prime members

Reliance Jio will begin charging for its services from the 1st of April. However, the brand has introduced a scheme for Prime members, wherein they may recover the INR 99 paid as a subscription fee. Users who pay their membership fee through the JioMoney app become eligible to receive INR 50 as cashback. Under the membership, those who opt for INR 303 monthly plan and do the recharge using JioMoney, will receive another cashback of INR 50. In this way, users can easily recover the subscription amount of INR 99.

The offer will help Jio in drawing customers to its Prime membership plan. The cashback option on the monthly INR 303 recharge will also enable the brand to add high-value users to its network and consequently increase its average revenue per user (ARPU) base.

Partnership with Paytm

Wallet applications like Paytm have partnered with Jio to offer the benefit of cashback to its users. Individuals who pay via Paytm for the Prime membership will receive a cashback of INR 10.

Mukesh Ambani  led Jio had declared in February that existing customers, as well as those who opt for the network provider’s services by March 31st, could enroll in the Prime membership plan by paying a one-time subscription amount of INR 99. It had also introduced the INR 303 monthly plan, which offers 1 GB data per day for 28 days, along with free STD and local calls.

Bank of America Merrill Lynch’s survey

Bank of America Merrill Lynch (BoAML) had conducted an online survey, which found that 57 percent of Jio subscribers believe that the telecom operator’s data speed is much faster than that of incumbent operators. BoAML surveyed 1000 individuals from Jio’s 100 million customer base. A similar survey conducted back in December 2016 revealed that 55 percent users believed the network to be faster than that of competitors.

According to the report, about 84 percent Jio users were expected to opt for Prime membership post the expiration of the free offer. It also revealed that 70 percent of users would opt for the INR 303 monthly plan and 96 percent would pay for Jio’s services. From the 96 percent, 12 percent would prefer non-Prime plans, while the remaining 84 percent would pay through the Prime offer.

The BoAML survey also found that 65 percent of users have been using Jio as their primary SIM. However, the previous survey conducted in December 2016 revealed that 50 percent individuals used it as their primary SIM.

The findings further suggested that 80 percent users remembered their Jio mobile number, while 92 percent said they had shared it with their contacts. Besides these, the survey suggested that Jio has improved its voice calling services over the months.

Summary

Reliance Jio offers cashback option to Prime members. A survey by BoAML also revealed that 57 percent of users feel Jio’s speed is faster than that of competitors.

Mukesh Ambani Speaks About India’s Potential to Lead the Fourth Industrial Revolution

March 21, 2017

Speaking at the India Today Conclave 2017, the Chairman of Reliance Industries Limited (RIL), Mukesh Ambani praised Prime Minister Narendra Modi’s demonetization and digitization initiatives and spoke about India’s technological potential.

Mukesh Ambani’s views on demonetization and digitization

With reference to demonetization, Mukesh Ambani said that India has moved from being a ‘cash economy to a digitally-enabled optimal cash economy’. He stated that India is great today and will be fantastic in the future. The industrialist added that when Prime Minister Narendra Modi met the then United States (US) President, Barack Obama, for a dinner at White House, they only discussed technology and how it could benefit the poor in a country.

With reference to the Narendra Modi-led Bharatiya Janta Party’s victory in the Uttar Pradesh elections, Mukesh Ambani stated that the Prime Minister understands the people of India, the world, and technology. He even said that the country is blessed to have him as a leader.

According to Mukesh Ambani, the credit in India has always been large in value but low on volume and hence available only for a few people. He said that Aadhaar-based identity will be linked in the coming years, after which taking a loan could be done through a mobile phone within a few minutes.

Mukesh Ambani revealed that India is the fifth largest and the fastest growing economy. According to him, the country’s current pace of growth could make it the third largest economy.

Due to the launch of Reliance Jio, India has recorded the highest data consumption in the world. Mukesh Ambani informed that Jio will be connecting 58,000 colleges and schools through digitization, thereby establishing the most digitally-enabled education system in the world.

India’s technological potential 

Mukesh Ambani said that the world is entering the fourth industrial revolution and India has the potential to lead this revolution. He believes that bringing back the brightest minds working overseas will enable the country to achieve this goal.

He stated that physical, biological and digital sciences are merging, which in turn will allow humans to redesign and rediscover all the aspects of life that exist on the planet. He further stated that technologies like robotics, artificial intelligence, cloud computing, nanotechnology, genomics, and mobile internet form the base of the revolution.

Speaking on India’s capacity to lead the industrial revolution, Mukesh Ambani stated five reasons for it. He revealed that India is a young country with 63 percent of its population aged under 35 years, with the skill to adapt faster to modern technology.

He feels that the lack of digital infrastructure in India will be helpful as it will enable the country to skip multiple generations of technology and directly adopt the upcoming generation.

According to him, India has a large and open market and is one of the most attractive places for business, technology, and global talent. Moreover, the leadership in India believes in connecting the country to the world. Lastly, he stated that India has the determination, political vision, capacity, and leadership to excel in technology.

Summary

Mukesh Ambani said that India has the capacity to lead the fourth global industrial revolution. He also praised Prime Minister Narendra Modi for his initiative to demonetize and digitize the country.

Jio Partners with Wallet Apps to Enable Recharges and Collaborates with Google to Manufacture Affordable 4G Smart Phones

March 15, 2017

According to a report by Business Line, Mukesh Ambani -led Reliance Jio is working with the global tech giant, Google, to design an affordable 4G smart phone.

Reliance Jio’s collaboration with Google

Reliance Jio and Google will develop the smart phone exclusively for Jio’s 4G network. The companies may launch the smart phone in late 2017. The Business Line report stated that Reliance Jio will be able to extend its reach further with the help of the brand name, Google. Besides, Google will also enable Jio to manufacture phones at a lower cost while also ensuring deep integration and efficient performance of Jio apps on Android platform.

Apart from this, the two companies will develop software for Jio’s smart TV services, together. This software is likely to be launched in the second half of 2017.

Partnership with device manufacturers

The retail arm of Reliance Industries Limited, Reliance Retail, is already working with Taiwan-based company Foxconn and many Chinese Original Design Manufacturers (ODMs) to produce Voice over Long-Term Evolution (VoLTE) enabled 4G smart phones and pocket routers. Some of the Chinese ODMs include Wingtech, CK Telecom, Zhongxing Telecommunication Equipment (ZTE), and Tinno Mobile. Besides, Jio is also working with Indian manufacturer, Lava International.

Recently, Reliance Jio asked all its Chinese and Taiwanese manufacturers to make LYF smart phones, automobile telematics devices, home automation systems, and smart set-top boxes in India. The Jio devices will be offered together with digital content and unlimited voice and video calling services.

Jio is also expected to partially subsidize its 4G feature phones and sell them for around INR 1,000.

Recharge option for Jio users through mobile wallet apps

Reliance Jio recently joined hands with a number of online recharge platforms including Paytm and MobiKwik. These platforms enable Jio prepaid users to recharge their connections. The facility will soon be available for Jio postpaid users as well.

Prepaid Jio Prime users can recharge and activate plans on their numbers using the Paytm app or website. MobiKwik is offering Jio Prime subscription for prepaid users at a discounted rate. RechargeItNow has also made Jio prepaid recharge option live on its platform. However, FreeCharge is yet to include Jio in its recharge list. These online recharge platforms will enable Reliance Jio to reach out to customers more efficiently.

Reliance Jio Prime offer

Mukesh Ambani led Reliance Jio announced the Jio Prime membership last month. Under this, the telecom company will be offering a number of affordable plans. The plans provide users with unlimited 4G data, unlimited voice calls, free national roaming, free SMS services, and unlimited access to Jio apps.

Reliance Jio said that these offers are a part of the introductory plan and it will soon announce a number of ‘Extreme-Value Plans’ for Jio Prime members. The Prime membership subscription is open until the end of March 2017. Reliance Jio will end its Happy New Year Offer and start charging customers from 1st April 2017.

Summary

Reliance Jio has joined hands with Google to manufacture an affordable 4G smart phone that will work only on Jio’s network. Jio users will be able to recharge their numbers using MobiKwik and Paytm.

Jio Enhanced its Average Mobile Data Speed and Promised an Extra 5 GB Data to its Prime Members

March 7, 2017

According to a report by Telecom Regulatory Authority of India (TRAI), Reliance Jio’s average peak download speed increased by more than twice in January end compared to December 2016.

In December end, Jio’s monthly average mobile broadband download speed was 8.34 megabits per second (Mbps). The same reached 17.42 Mbps during the end of January. At such a high-speed, a movie download will not even take three minutes.

TRAI gathered real-time data via an app, MySpeed and calculated Reliance Jio’s average mobile data speed over its network across India.

Reliance Jio’s additional data pool offers

Mukesh Ambani led Reliance Jio announced that it will offer an extra 5 GB data to its Prime members who opt for the INR 303 plan.

Prior to this, Reliance Jio stated that Jio Prime members may extend their ‘Happy New Year’ offer with a monthly recharge of INR 303. Under this, they get 28 GB high-speed data with a validity of 28 days and a daily data usage cap of 1 GB. Once the 1 GB data for the day is over, the speed is reduced.

With the new announcement, Reliance Jio promised to give an additional 5 GB data over the existing 28 GB. This means that users will not face a speed slow down post 1 GB usage, till the extra 5 GB data is available. The extra 5 GB data is worth INR 201. It will be available to the users for the first month of the Jio Prime subscription.

Similar to this offer, users who make a recharge of INR 499 or more will get additional data of 10 GB. The INR 499 scheme already has a total data of 56 GB with a validity of 28 days and daily data usage cap of 2 GB.

Other benefits under the schemes like unlimited national and local calls, free text messages, and no roaming charges will be the same.

Reliance Jio’s announcements

At a press conference held on 21st February 2017, Chairman of Reliance Industries Limited (RIL) Mukesh Ambani announced that Reliance Jio crossed the mark of 100 million customers in just 170 days of its launch.

He said that Jio will closely monitor and match the best-selling tariff plans of its competitors and offer 20 percent additional data over those plans.

The company will begin charging for its data service from 1st April 2017 but continue to offer free voice calls and national roaming.

According to Mukesh Ambani, Reliance Jio will offer services worth INR 10,000 to its customers at ‘a rock-bottom introductory price’. The company has also promised to introduce more attractive offers for its Prime members.

Users may enroll for the Jio Prime Membership by 31st March 2017. The subscription for Jio Prime Membership costs INR 99 and will be valid from 1st April 2017 to 31st March 2018.

Summary

Reliance Jio’s average mobile data speed increased by twice during January end. In its new announcement, Jio promised to offer additional 5 GB data over the INR 303 monthly plan to its Prime members.

Elated at Jio’s 100 Million Customer Base, Mukesh Ambani Reveals the Factors Important for Business Growth

February 17, 2017

Reliance Jio’s unprecedented success has led to the brand creating a large-scale impact on the Indian digital sector. Chairman of Reliance Industries Limited (RIL), Mukesh Ambani has been overwhelmed by the response that the telecom subsidiary has garnered within a few months of its commercial launch.

Mukesh Ambani’s views on Jio’s growing customer base

At the Nasscom Leadership Forum, 2017, Mukesh Ambani expressed his amazement at Jio’s rapid growth in terms of its subscriber base, which has now crossed the 100 million mark. He stated that the company’s target was to acquire close to 100 million customers within a short period. However, he added that no one imagined that the company would reach its target in only a few months.

Reliance Jio made its initial entry with a soft launch on 27th December 2015. This rollout of data services was restricted to RIL employees. Later on, these facilities were made available to customers from 5th September 2016. With regard to customer acquisition, Mukesh Ambani revealed how the Aadhar card-based e-KYC system enabled Jio to draw a massive number of customers each day, an achievement not many can boast of.

Massive increase in customers in the shortest time

Customers may subscribe to the Jio network through verification of their Aadhar card numbers, which is a quick and convenient procedure. The company had recorded over 50 million users on its network within only 83 days of its launch, wherein 6 lakh subscribers were being added to its customer base each day.

Reliance Industries Limited had mentioned Jio’s approximate number of subscribers when it announced its quarter three results, revealing a customer base of 72.4 million as of December 31st, 2016.

Mukesh Ambani’s ideas on making a business succeed

At the Nasscom Forum, Mukesh Ambani stated that in order to succeed as an entrepreneur, it is important to handle the investors’ money more carefully than one’s own. He also added that having the right team is crucial to the success of any business. Mukesh Ambani personally considers these two aspects to be the key factors responsible for driving an enterprise. At the forum, he shed light on his entrepreneurial journey and the factors that contributed to his success. He also made a reference to the first lesson in entrepreneurship that he learnt from his father. According to him, an entrepreneur must first find the problems that he is passionate about and only then proceed with solving the same. Besides, in his view, solutions to problems should have a positive impact on the masses and their resulting financial returns should only be given secondary importance. This aspect, he stated, has been institutionalized at RIL.

Mukesh Ambani emphasized on learning for failures instead of being discouraged by them. He believes that an entrepreneur should be optimistic and help the team realize his own vision in order to achieve a common goal.

Summary

Mukesh Ambani spoke about Jio achieving its target of 100 million customers and the important factors responsible for a successful business at the Nasscom Forum.

JioChat App’s New Feature Lets Users Send Money via Their JioMoney Account

February 8, 2017

Reliance Jio’s offerings span data services, 4G-compatible devices, free voice calling facilities, and premium applications. The brand’s apps have received a positive response for their superior functionality and convenience. JioChat and JioMoney are amongst the leading apps that have received impressive reviews.

New feature on JioChat

Mukesh Ambani led Reliance Jio recently made an announcement on a leading social networking platform that users may now seamlessly integrate the two apps, JioChat and JioMoney. This will make it possible for them to transfer money via their JioChat window. The design of the JioChat app has been modified to include the Rupee icon. Users may tap on this icon and transfer money even while having a conversation with a contact. Tapping on the icon will enable users to enter the amount they wish to have transferred. Once users enter the amount and submit the details, the specified amount would be subtracted from their JioMoney account balance. After the transaction is complete, users will receive a confirmation message on the JioChat window itself.

Announcement made via social networking platform

The announcement made on the social networking platform was followed by a short clip to offer users an insight into the app’s new transaction feature. This clip revealed how users could benefit by transferring money simply from a single app. The features have been cleverly depicted through a GIF. In addition to this, the telecom company released a video via its YouTube channel, ‘Jio’, which guides users on linking and unlinking JioChat with JioMoney.

Linking JioChat and JioMoney apps

To link the JioChat app with JioMoney, users need to ensure that the number registered for these services is common to both. Thereafter, users may visit the JioMoney account segment and click on the ‘Payments’ option. They must select ‘More’ and then tap on ‘Link’. This will lead to OTP authentication, which will result in the JioChat app getting linked to users’ JioMoney account. This procedure could even be completed while sending money through chat. Therefore, if a user attempts to send money by entering the amount, he will be requested to authenticate the same through OTP. To unlink the services, users may visit the ‘Payments’ segment on JioMoney, tap on ‘Unlink Account’, and thereafter click on ‘JioMoney Account’.

Currently, none of the OTT apps or digital content apps offered by incumbent operators includes this feature except JioChat. This makes the app unique in its functionality as compared to competitor applications. Currently, the app can be used by individuals having the JioMoney application.

Jio’s main idea is to create a comprehensive digital ecosystem and by integrating JioChat and JioMoney, the brand has reinstated its performance in the industry. The multitude of services being offered by Jio has also compelled incumbent operators to refine their facilities to meet the growing demands of customers. Jio’s services have become the precursors to many such innovative offerings that will be launched in the country in the upcoming years.

Summary

JioChat app now includes a new feature that will enable users to integrate the app with their JioMoney account in order to transfer money to their contacts.