Bengaluru, Wednesday, July 18, 2018: Jana Small Finance Bank today announced the commercial launch of its banking operations. In line with Government of India and Reserve Bank of India’s ‘Financial Inclusion’ agenda, the transition from a micro finance company to a bank is set to enable more than 45 lakh existing loan customers of Jana Small Finance Bank to come into banking ecosystem by the end of 2018.

True to its slogan - ‘Paise ki Kadar’ i.e. value for money, the bank is truly focused on providing better returns on its customer’s hard-earned money and hence is set to offer an inaugural rate of 8.5 percent on Fixed Deposits for 366 days. For senior citizens, the rate is up to 9.1 percent for the same tenure. Also, to further value its Group Loan Customers’ hard-earned money, the bank will offer zero-balance - Basic Savings Bank Deposit Account.

Present at the launch event, Mr. R. Gandhi, Former Deputy Governor of Reserve Bank of India said, “I am delighted to be here for the launch of Jana Small Finance Bank and happy to note the progress it has made from a MFI to a Bank. I wish the bank all the best and success in its mission to boost financial inclusion in India.”

Mr. Ramesh Ramanathan, Non-Executive Chairman, Jana Small Finance Bank said, “The full-scale commercial launch of our banking operations enables us to fulfil our promise of being a full-service financial institution to millions of our customers. Our combination of scale combined with robust technology, allows us to be a nationwide local bank to our customers, deeply embedded in the communities we serve. Financial inclusion continues to be a major challenge in India, not just for the poor but the aspirational middle class as well as for the millions of micro and small enterprises.” He added, “We, at Jana Small Finance Bank, are committed to playing our part in this nation-building endeavour, and fulfilling our stated vision to be the leading digitised bank of an aspirational India serving all customers and communities.”

Mr. Ajay Kanwal, MD & CEO, Jana Small Finance Bank said, “Jana Bank is excited about its journey to partner an aspirational India grow especially in the rural and unbanked sector. This sector is large, challenging and has great opportunities for a bank dedicated on this mission. We are also delighted that we will give opportunities for banking careers in approximately 500+ districts that we plan to serve across India. Given our experience, we aim to be a household name serving all needs of our customers, both individuals and businesses.” For more than a decade, the Jana team has been striving to provide access to formal financial system. Recently, Capital Finance International (, London, acknowledged this contribution of Jana team and adjudged it as The Best Inclusive Financial Service – India 2018.

The bank has started its banking operations with Capital Adequacy Ratio (CAR) of about 35 percent and loan book of INR 76 billion as on March 31, 2018. For covering its extensive customer base, the bank has launched 157 bank branches, which includes 12 branches in unbanked rural areas. By end of 2019, Jana Bank’s 500 branches will be operational in 19 states, post conversion of majority of its micro finance store fronts into bank branches. 150 of our branches will also cater to small and medium enterprises. For bolstering its current manpower of 15,000, it is planning to hire 1000 employees by end of current year.

At the onset, for catering to the diverse needs of customers, the bank will continue with micro finance lending and in unison it will extend business loans, agri loans, affordable housing loans and gold loans.

About Jana Small Finance Bank

Jana Small Finance Bank, erstwhile Janalakshmi Financial Services, is headquartered in Bengaluru. It is one of the 10 financial institutions which had received in-principal approval from RBI for setting up a Small Finance Bank in 2015.

Established in Bengaluru in 2008, it was the largest Micro Finance Institution (MFI) in India, and was recognised globally as one of the world’s innovative financial institutions working on the problem of financial inclusion.
Jana Bank received final banking license in April 2017 and started banking operations on March 28, 2018. Under the leadership of its MD & CEO, Ajay Kanwal, Jana Small Finance Bank’s vision is to become the leading inclusive digitised bank serving all customer segments and communities of an aspirational India.
Currently, post transition phase, the bank is enabling its existing 45 lakh customers across 19 states in India to access the banking services. It has Capital Adequacy Ratio (CAR) of about 35 percent and a loan book of INR 76 billion as on March 31, 2018. By 2020, the bank aspires to add four million customers.
The bank has deep domain expertise in banking and financial services with the senior management team having 25+ years of average experience in banking sector. Its current employee strength is of 15,000.
By end of 2019, Jana Bank’s 500 branches will be operational in 19 states, post conversion of majority of its micro finance storefronts into bank branches.
Bengaluru-headquartered Jana Small Finance Bank is regulated by the Reserve Bank of India (RBI).
For more details, please visit -

About Jana Small Finance Bank

  • In 2015, Palladium inducted Janalakshmi Financial Services into the 2015 Palladium Balanced Scorecard Hall of Fame
  • In 2016, VC Circle awarded JFS with the ‘Best Financial Services firm in India’
  • 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 2018, Capital Finance International ( adjudged the Jana Small Finance Bank as the The Best Inclusive Financial Services – India 2018 in London

For media queries, please contact