Jana Small Finance Bank launches new banking branch in Mancheshwar, Bhubaneshware

Bhubaneshwar, Friday, 13 March 2020: Jana Small Finance Bank inaugurated a new branch today in Mancheshwar, Bhubaneshwar. With this, the Bank has now total 7 branches operational in the state. As a part of the bank’s expansion drive, it will convert existing asset centers into bank branches and will reach 550 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 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 15000+ employees across 302 bank branches and 250 Asset centers/outlets.

Inaugurating the branch, chief guest Shri Subir Kumar Mitra, Former Executive Director, NABARD, said, “Jana Small Finance Bank has been serving the underbanked women of Odisha for the last 6 years. With the launch of this branch, Jana now has the opportunity to be a banker to hundreds of under-banked citizens of Odisha. I am honoured to be a part of the bank’s journey today and I wish the bank all the very best for their future endeavors

Present on the occasion, Mr. Sudhir Madhavan, Head Retail Finance Assets, Jana Small Finance Bank said, “The branch launch in Mancheswar is another significant milestone in our endeavor to take the benefits of a Banking to the remotest corners of our country. We are glad that through our services, we are able to support the customers to grow, especially in the rural and unbanked sector in line with our mission as a bank.

Our objective with these bank branch conversions is to make the underbanked customers feel welcome into the 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.

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

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.

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