Reliance Jio Denies Launch of Jio Coin App
Reliance Jio (Representational image)

New Delhi, Jan 31: Following reports of digital currency app in its name soliciting investments from people,Reliance Jio denied to have any such application and asked people to refrain from it.

"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 Jio Coin name are fake and people are advised to refrain from dealing with any of them," Reliance Jio said in a statement.

A mobile application on Google store was seen with thename of "Jio Coin" published by "Rellance Digital". The tagline of the app said "Jio Coin New Digital Currency forIndia".

The app had crossed 10,000 downlaods by the time Jioissued statement.

Jio said that it has come across reports in media and other websites about the existence of purported Jio Coin Apps on the Internet that are soliciting investments in cryptocurrencies from people.

"Reliance Jio takes a serious note of such fraudulentattempts by unscrupulous persons to misguide the public in thename of Jio and reserves the right to take appropriate legalrecourse," Jio said.

In last couple of years, number of digital currency haveentered in to market that are attracting investments frompeople. Most famous among these currencies have been Bitcoinwhich was trading at around Rs 14 lakh a unit last month butit has now receded to almost half.

The government has warned people from investing in such virtual currencies.