Template:Infobox company Jana Small Finance Bank is a small finance bank that commenced operations on March 28, 2018, headquartered in Bangalore, India.[1] The Reserve Bank of India issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949.[2] Prior to becoming a bank, the company was India's largest microfinance institution, Janalakshmi Financial Services,[3] founded July 24, 2006.[4]
As a microfinance lender, the company survived large losses following the 2016 Indian banknote demonetisation, reporting total losses of ₹2,504 crore (US$Template:To USD million) at the time of its conversion to a small finance bank.[3] Jana reported in November 2019 that the September 2019 quarter was its first profitable quarter since demonetisation.[5]
DigiGen
DigiGen is a digital banking platform launched by Jana Small Finance Bank.[6]
Shareholding
Major investors in Jana include US-based private equity fund managers TPG Capital and HarbourVest Partners.[5]
See also
References
- ↑ Jana Small Finance Bank. www.janabank.com. Retrieved 2021-03-15.
- ↑ Jana Small Finance Bank Limited commences operations. Reserve Bank of India(March 28, 2018). Retrieved July 7, 2019.
- ↑ 3.0 3.1 Jana Small Finance Bank launches commercial operations. livemint.com(July 18, 2018). Retrieved July 7, 2019.
- ↑ Jana Small Finance Bank Ltd. Bloomberg. Retrieved 7 July 2019.
- ↑ 5.0 5.1 TPG Capital leads ₹225 cr funding round in Jana Small Finance Bank. livemint.com(8 November 2019). Retrieved 12 November 2019.
- ↑ DIGIGEN by Jana Small Finance Bank.