Jana Small Finance Bank gets Scheduled Bank status

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 this year, putting Jana Small Finance Bank on the list of the banks included in the second schedule of RBI Act 1934.

Jana Small Finance bank presently operates in 260 bank branches and 338 asset centres, which is serving over 5.5 million customers across the country.

Ajay Kanwal, MD & CEO of Jana Small Finance Bank said, “Our aim has always been to provide financial inclusion to the under-served sections, 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 centres and 103 Unbanked Rural centres (URCs) into full-fledged bank branches. Alongside, the bank continues to extend their product offerings such as business loans, agri loans, affordable housing and gold loans, that caters to customers.

Established as a financial service company in 2009, the bank has presence in 20 States and one union territory.

[“source=thehindubusinessline”]

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