Jana Small Finance Bank digitally inaugurates 18 branches in Maharashtra

Small Finance Bank today digitally inaugurated 18 bank branches in Maharashtra that is dedicated to financial inclusion and is serving the underbanked customers. The bank has been successfully serving the financial inclusion segment over 20 years and now focusing on expanded product range after converting to a scheduled commercial bank.

With the conversion of its asset centers to bank branches, Jana Bank’s presence in Maharashtra will reach 70 and 601 all India. Maharashtra is the second highest of the 22 states where the bank has a presence. Staying true to their promise of “paise ki kadar”, Jana Bank values the hard-earned money of its customers and is all set to increase its footprint across rural India.

Jana Small Finance Bank started its journey in Maharashtra in 2010 and have served over 15 lakh customers in the state who are mainly women. The bank offers unsecured loan to women under the group loan model as well as individual loans for small businesses.

The average loan size for group loan model is Rs.34,900 and individual loan for small businesses Rs.60,000. The bank also offers Agriculture Loan, MSME loans, Gold Loan, Affordable Home Loan & Home Improvement Loan. With the conversion of asset centers into bank branches our customers will now be able to avail of banking products like Savings Account, Current Account, Fixed Deposits, Recurring Deposits, OD Account.

Speaking on the announcement, Shri Ajay Kanwal, MD & CEO, Jana Small Finance Bank said, “It is the immense passion of our bankers and the customer confidence invested in us that has allowed us to open new branches even during the COVID times. All our new branches across Maharashtra have digitised environment with best in class offerings”.

Inaugurating the branches, chief guest, Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India said “My congratulations to Jana Small Finance Bank for inaugurating 18 bank branches in Maharashtra. I would encourage the bank to continue on its journey of financial inclusion which becomes even more relevant in the post COVID environment. Credit expansion is an important ingredient of growth and prosperity. There are enormous opportunities to bridge the financial inclusion gap in the country and I am happy to note that Jana Small Finance Bank is committed to do so. I wish the bank all the very best for its expansion, digitization, and future endeavours.”

Jana Small Finance Bank is a scheduled commercial bank operating in 22 states with 15,000 employees and over 40 lakh customers.