Reliance Jio rebuts JioCoin reports, clarifies it has not launched any app

The Mukesh Ambani company said any such apps using the JioCoin name were fake and people were advised to refrain from dealing with any of them

Telecom services company Reliance Jio Infocomm, part of the Mukesh Ambani-controlled Reliance Industries, on Thursday clarified that the company had not launched any app for soliciting investments in the so-called JioCoin cryptocurrency.

“Reliance Jio has come across reports in media and other websites about the existence of purported JioCoin apps on the internet that are soliciting investments in cryptocurrencies from people,” the company said in a media release.

Advising people not to be fooled by such apps, Reliance Jio said: “Reliance Jio would like to inform the public and media that there are no such apps offered by the company or its affiliates/associates. Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them.”

“Reliance Jio takes a serious note of such fraudulent attempts by unscrupulous persons to misguide the public in the name of Jio and reserves the right to take appropriate legal recourse,” Jio said in its release.

Reliance Jio claims to “bring transformational changes in the Indian digital services space to enable the vision of Digital India for 1.2 billion Indians and propel India into global leadership in digital economy”. A relative newbie in the country’s telecom services ecosystem, the company has caused a major churn in the industry with its rock-bottom tariffs and huge free data offerings in the initial days of launching services. Not only has it gained subscribers very swiftly but also led to a lot of consolidation in India’s telecom sector.