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Bangalore, Tuesday, 20 October 2020: Jana Small Finance Bank has achieved a milestone in branch banking with the opening of its 500th Branch today in Amruthahalli, Bangalore. The Bank will convert its remaining asset centres into bank branches and will have over 600 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 Bank values the hard-earned money of its customers and is all set to increase its footprint across the country.

Across India, Jana Small Finance Bank is catering to over 40 lakh customers served by 15000+ employees across 500 bank branches and over 100 Asset centres/outlets.

Speaking on the announcement, Ajay Kanwal, MD & CEO, Jana Small Finance Bank said, “Even during COVID times the passion of our bankers has allowed us to open new bank branches. All the new branches have a digitised environment and products which help serve the underserved”.

Inaugurating the 500th branch, chief guest, Shri. Manish Sabharwal, Chairman of Team Lease Services Limited and Member of the Central Board of the RBI said “Credit expansion is an important ingredient of growth and prosperity. There are enormous opportunities to bridge the financial inclusion gap in the country and happy to note that Jana Small Finance Bank is committed to do so. I wish the bank all the very best for its expansion, digitization, and future endeavours.”

Chief Guest Shri. Jose J. Kattoor – Regional Director, Reserve Bank of India, Karnataka said,“My congratulations to Jana Small Finance Bank for their 500th bank branch. I would encourage the bank to continue on its journey of financial inclusion which becomes even more relevant in the post COVID environment. I am also happy to see that the bank is training youngsters into banking professionals and offering employment in interior parts of India”.

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

Jana Small Finance Bank Ltd. commenced operations in March 2018. By end of financial year 2020-201, over 600 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, please 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.