The origin of Jana Small Finance Bank is a classic case of good intentions executed methodically with a definite purpose and a larger benefit in mind.
What started as an incubated initiative called Sanghamitra Urban Programme (SUP) has evolved into Jana Small Finance Bank, an organization committed to making the best of banking products and services available across all strata of society!
Jana’s roots can be traced back to an outstanding microfinance institution called Sanghamitra Rural Financial Services (SRFS) — set up by one of India’s most respected rural NGOs, Myrada (Mysore Resettlement and Development Agency).
Our first group loan in October 2000, marked the earliest instance of urban microfinance in India. Within a span of 16 months, we had loaned INR 10 million towards helping the underserved populace gain a better quality of life.
Realizing that the answer lay in setting up a full-service microfinance institution, we also transformed to Janalakshmi Financial Services (JFS) in 2006. JFS was primarily focused on improving the lives of the urban poor.
Over time, JFS gained a global recognition as one of the world’s most trusted and innovative financial institutions, working on the problem of financial inclusion. In November 2015, we received the popular "Balanced Scorecard Hall of Fame" award. In March 2016, JFS also received the VCCircle award for the "Best financial services firm in India" that had received venture capital funding.
A modest core team at the helm of Jana has been trying to understand the aspirations and challenges of the urban poor, and the role that organized financial services could play in fulfilling these aspirations. We have realized that the urban under-served need more than just small loans. They need a safe haven for their hard-earned savings, and a benefactor behind their entrepreneurial dreams.
With our core belief of ‘empowerment and fulfillment’, combined with our learning and realization, we’ve come a long way, and further continue to shape our thought process and sharpen the edges of our operational philosophy.
As Jana Small Finance Bank, we are now working tirelessly to bring the best of banking options to the growing and aspirational urban under-served and unserved.
We tell them: Likho Apni Kahani.