cxo voice
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News Finance

Jana Small Finance Bank to bring more than 45 Lakh customers into banking ecosystem

News Desk by News Desk
July 18, 2018
Jana Small Finance bank

 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 tenor. 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, Chief Guest 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 Bankand 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.”

Jana Small Finance

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 digitized 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 (CFI.co), London, acknowledged this contribution of Jana team and adjudged it as The Best Inclusive Financial Service – India 2018.

ADVERTISEMENT

 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 storefronts 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.

News Desk

News Desk

by CXO VOICE team memebrs, [email protected]

Related Posts

Venu Lambu
People

Debashis Chatterjee Retires as LTIMindtree CEO; Venu Lambu Appointed as Successor

May 30, 2025
Lenovo and Motorola FIFA Club World Cup 2025
Press Release

Lenovo and Motorola announce partnership with FIFA Club World Cup 2025™

May 30, 2025
Dora Liu Deloitte
People

Dora Liu Appointed CEO of Deloitte China, Set to Advance Growth with ‘1-2-3 Strategy’

May 30, 2025
Salesforce Amsterdam
Business

Salesforce Expands European Presence with New Amsterdam Office

May 30, 2025
Kore.ai
Business

Kore.ai Partners with AWS to Transform Customer Experiences with Integrated AI Solutions

May 28, 2025
Antony Cahill Visa
People

Antony Cahill Set to Lead Visa’s European Operations as Charlotte Hogg Departs for New Opportunity

May 27, 2025
Press Release

Coforge and Nylas Partner to Revolutionize Salesforce Customer Scheduling and Communication

May 27, 2025
Vietnam Airlines and FPT
Business

Vietnam Airlines and FPT Forge Strategic Partnership to Elevate Customer Experience Through Advanced Technology

May 23, 2025
Load More
ADVERTISEMENT

Latest Updates

Venu Lambu

Debashis Chatterjee Retires as LTIMindtree CEO; Venu Lambu Appointed as Successor

by Deepa Sharma
3 days ago

Lenovo and Motorola FIFA Club World Cup 2025

Lenovo and Motorola announce partnership with FIFA Club World Cup 2025™

by News Desk
3 days ago

Dora Liu Deloitte

Dora Liu Appointed CEO of Deloitte China, Set to Advance Growth with ‘1-2-3 Strategy’

by Deepa Sharma
3 days ago

Salesforce Amsterdam

Salesforce Expands European Presence with New Amsterdam Office

by Deepa Sharma
3 days ago

Kore.ai

Kore.ai Partners with AWS to Transform Customer Experiences with Integrated AI Solutions

by Deepa Sharma
5 days ago

Antony Cahill Visa

Antony Cahill Set to Lead Visa’s European Operations as Charlotte Hogg Departs for New Opportunity

by Deepa Sharma
6 days ago

Expert Views

Opinion

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

May 20, 2025
Molly Sands AI
AI

AI RIP: 5 Things Knowledge Workers Will Say ‘Sayonara’ to in the Next Decade

March 8, 2025
multi cloud
Cloud

Multi-Cloud Made Simple: Strategies for Smart Business Management

March 5, 2025
Soft Skills
Opinion

Soft Skills and Technical Know-How: A Winning Combination in the Tech Industry

March 4, 2025
Digital Freedom
Cyber Security

Your Data, Their Gold: The Silent Battle for Digital Freedom

February 25, 2025

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Interviews

Steve Wilson, GenAI Cybersecurity LLMs
Cyber Security

How effective is GenAI in cybersecurity? The role of LLMs and AI in security solutions. [Interview with Steve Wilson]

-
Interview on Counterfeit products with Nikhil Narayan
Leaders Talk

Advancements in ML & AI made it possible to detect counterfeit products in real-time, says Nikhil Narayan

-
Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami
Leaders Talk

Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami

-
AI chatbots, Prasanna-Kumar
Leaders Talk

Can AI chatbots enhance customer experience and reduce the cost of serving customers?

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

CXOVoice.com is a leading online publication for CXOs, entrepreneurs, senior leaders, developers, and industry professionals. Our coverage spans key sectors, including IT, technology, banking, finance, cybersecurity, engineering, and automobiles.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]
  • Home
  • About Us
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

Copyright © 2025 CXOVoice - All Right Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release

Copyright © 2025 CXOVoice - All Right Reserved