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Chennai, Thursday, 27 February : Jana Small Finance Bank Ltd today launched its newest branch in Thiruvanmiyur of Chennai. With this, India’s newest small finance bank has now expanded its bank branch network to 29 in Tamil Nadu. The bank’s branch network will reach 50 by end of this financial year and 80 by March 2021.

The bank is now serving over 6 lakh customers in Tamil Nadu and has growing asset book size of over Rs.2200cr and total deposits of over Rs.1100cr.

Across India, it is catering to more than 40 lakh customers, served by 15,000+ employees spread across 279 bank branches and 300 asset centers.

Inaugurating the branch, Chief Guest, Hon. Member of Parliament, Thamizhachi Thangapandian — said, “Jana Small Finance Bank has been serving the underprivileged women of Tamil Nadu for last 12 years and I feel proud to be a part of the bank’s journey today.

The launch of the bank branch in Thiruvanmiyur is proof of Jana’s continued commitment to the citizens of Tamil Nadu, especially the underbanked. I wish the bank all the very best.”

In sync with its brand promise — Paise ki Kadar (value for money) — Jana Small Finance Bank is offering 9% interest Fixed Deposits; for senior citizens, the rate is 9.1%.

Pradeep Gurumallappa, Zonal Head – Retail Financial Services, Tamil Nadu, Jana Small Finance Bank, said, “We have been proudly serving Tamil Nadu since 2008 and we are elated to expand our footprint in Chennai. Jana Small Finance Bank’s commitment towards financial inclusion reflects in our varied product offerings including its zero balance savings account, fixed deposits with high interest rates, collateral free loans and affordable housing loan schemes.

Our highly committed employees drive the deep relationship with our customers through ongoing monthly engagements. Our objective with this bank branch conversion is to make the underbanked customers feel welcome into the bank branches and to enhance their trust that they have entrusted on us over the years.”

Jana Small Finance Bank Ltd. commenced operations in March 2018. By 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.  

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

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, please visit - http://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.