Jana Small Finance Bank Touches 300 Bank Branches Milestone

Updated: 12/03/2020

Jana Small Finance Bank Touches 300 Bank Branches Milestone

- Opens its branch in Hoshangabad, Madhya Pradesh

BHOPAL, India, March 12, 2020 /PRNewswire/ -- Jana Small Finance Bank has achieved a milestone in branch banking with the opening of its 300th Branch today in Hoshangabad, Madhya Pradesh. The Bank will convert its remaining asset centres into bank branches and will have over 550 bank branches by March 2021.

Jana Small Finance Bank has been serving the underbanked customers through various products including zero balance savings accounts, fixed deposits with attractive interest rates, collateral free loans and affordable housing loan schemes. True to their promise of 'paise ki kadar', Jana values the hard-earned money of its customers as it is all set to increase its footprint across the country.

Across India, Jana Small Finance Bank is catering to more than 40 lakh customers served by 15,000+ employees across 300 bank branches and 250 Asset centres/outlets.

Speaking on the announcement, Sandeep Arora, Head - Products & Marketing, Jana Small Finance Bank, said, "The milestone of 300 bank branches is a testament of our commitment to financial inclusion. We are committed to enrich the banking experiences of all of our customers, both individuals and businesses. We are glad that through our services, we are able to support the to grow, especially in the rural and unbanked sector in line with our mission as a bank."

"Our highly committed employees create the deep relationship with our customers through regular personal meetings. These personal meetings are important as they create the familiarity and trust to bring the unbanked into the banking fold. Our objective with these bank branch conversions is to make the underbanked customers feel welcome into the bank branches."

Inaugurating the 300th branch chief guest, Dr. Shri Sitasharan Sharma, MLA, Hoshangabad (Former speaker, MP Vidhan Sabha) said, "Jana Small Finance Bank has been serving the underprivileged women of Madhya Pradesh for over 10 years and I feel proud to be a part of the bank's journey today. I wish the bank all the very best."

The bank will continue to extend other product offerings like business loans, agriculture loans, individual loans, affordable housing loans and gold loans to cater to the diverse needs of customers.

Jana Small Finance Bank Ltd. commenced operations in March 2018. By the end of financial year 2019-20, over 337 branches will be operational in at least 22 states and Union Territories, following conversion of many of its micro finance storefronts into bank branches. 

About Jana Small Finance Bank:

Jana Small Finance Bank, erstwhile Janalakshmi Financial Services (JFS), is headquartered in Bengaluru and has over a decade of existence.

It is one of the 10 financial institutions which had received in-principal approval from the RBI for a Small Finance Bank in 2015. Jana Small Finance Bank received final banking license in April 2017; it started banking operations on March 28, 2018.

Currently, the bank is serving 40 lakh customers across 22 states and Union Territories in India. Its vision is to become the leading inclusive digitized bank serving all customer segments and communities of an aspirational India.

For more details, visit, https://www.janabank.com

Awards and recognition:  

 •  In 2018, Capital Finance International (CFI.co) adjudged the Jana Small Finance Bank as The Best Inclusive Financial Services - India 2018 in London
 •  In 2017, JFS was featured in 'Fortune - The Top 500' as the largest corporations in India and was awarded as India's Distinctive Goodwill Brand for 2017. In the same year, CNBC awarded JFS for Best Financial Sector Transaction ADB Private Sector.
 •  In 2016, VC Circle awarded JFS with the 'Best Financial Services firm in India'
 •  In 2015, Palladium inducted JFS into the 2015 Palladium Balanced Scorecard Hall of Fame. It is considered the preeminent award for strategy execution and the oldest of the Balanced Scorecard award programs.

Photo: https://mma.prnewswire.com/media/1122683/Hoshangabad_Branch_Inauguration.jpg

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