Jana Small Finance Bank receives Scheduled Bank status from RBI

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Mumbai, Aug 08, 2019: Jana Small Finance Bank Ltd, which commenced banking operations in March 2018, has got the status of a Scheduled Bank. The Government notified this on July 27, 2019, putting Jana Small Finance Bank on the list of the banks included in the 2nd schedule of RBI Act 1934.

Jana Small Finance bank presently operates in 260 bank branches and 338 asset centers which is serving over 5.5 million customers across the country. Established as a financial service company in 2009, the bank now has presence in 20 states and one union territory.
Commenting on the development, Mr. Ajay Kanwal, MD & CEO of Jana Small Finance Bank said, “Our aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries. Becoming a Scheduled Bank is an important milestone for us and this will reinforce our relentless efforts to serve our customers while receiving the faith and trust the customers have reposed to the bank”

By the end of FY20, the bank plans to convert 98 asset centers and 103 Unbanked Rural centers (URC’s) into full-fledged bank branches. Alongside, the bank continues to extend their product offerings like business loans, agri loans, affordable housing loans and gold loans, among others; that caters to the diverse needs of customers.

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