Jana Small Finance Bank and Axis Securities enters into a tie-up to offer investment services

Bangalore, 28 October, 2021: In a move to strengthen the Board and support the firm through the next phase of growth, Jana Small Finance Bank Limited today announced the appointment of Dr. Subhash C Khuntia as the Part-time Chairman. [A 1981-batch Indian Administrative Services (IAS) officer, Dr. Khuntia has earlier worked as Chief Secretary to Government of Karnataka, Secretary to Government of India, Department of School Education, and was the Chairman of Insurance Regulatory and Development Authority of India (IRDAI).

Dr. Khuntia has vast administrative experience of working in several Departments at the Central Government including Ministry of Finance (Department of Economic Affairs), Ministry of Human Resource Development (School Education and Literacy) and Ministry of Petroleum and Natural Gas. In the Government of Karnataka, he worked in the Departments of Finance, Revenue, Personnel, Urban Development, Public Works and Ports. Speaking on this appointment, Jana Small Finance Bank’s MD &

CEO Ajay Kanwal said, “We are delighted and honored that Dr. Subhash Chandra Khuntia has agreed to be the Part time Chairman of the Board.  Dr. Khuntia’s experience as the Chairman of IRDAI will serve the Board and Bank well in keeping governance at its highest standards. His deep knowledge and experience in handling large complex roles like the Chief Secretary, Government of Karnataka, is exemplary and we are fortunate to have his guidance.

Dr. Khuntia said, “In a short span of time, Jana Small Finance bank has come a long way. I am delighted to be a part of the bank’s journey as it continues to make a difference to the financially underserved and under-penetrated segments of the society. Financial inclusion has always been dear to my heart and I am excited at the opportunity to work with the Board and the Management Team at Jana in their endeavor towards this noble cause.”

Dr. Khuntia holds a Doctorate in Economics and Post Graduate degrees in Economics, Computer Science, Physics, Sociology, Political Science and Philosophy. Dr. Khuntia is also a Graduate in Law. He is an alumnus of Ravenshaw College, Cuttack, Indian Institute of Technology, Kanpur and London School of Economics.

About Jana Small Finance Bank:

Jana Small Finance Bank Limited (Jana Small Finance Bank) is one of the leading Small Finance Banks of India in terms of assets under management and deposit size as at March 31, 2020, as per the report titled ‘Overview of Banking Sector in India’ dated March 12, 2021, issued by IRR Advisory (“IRR Report”). Jana Small Finance Bank has the second most geographically diversified portfolio with a pan-India presence among all Small Finance Banks in India as at March 31, 2020 (Source: IRR Report). [As at February 28, 2021, Jana Small Finance Bank had 611 Branches, including 166 Branches in Unbanked Rural Centres, and 134 ATMs located in 229 districts in 19 states and three union territories. Jana Small Finance Bank has served over 8.00 million customers since 2008, including approximately 3.05 million active customers.

Jana Small Finance Bank Limited (the “Bank”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs i.e. Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited at www.axiscapital.co.in, www.icicisecurities.com and www.sbicaps.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Bank and that will contain detailed information about the Bank and management, as well as financial statements. However, no public offering of securities is being made in the United States

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