With having prime focus on rural banking and providing services to the unbanked areas, Jana Small Finance Bank has achieved a milestone in branch banking with the opening of its 300th branch today in Hoshangabad, Madhya Pradesh. The Bank will convert its remaining asset centres into bank branches and will have over 550 bank 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. With its promise of ‘paise ki kadar’, Jana 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 15,000+ employees across 300 bank branches and 250 asset centres/outlets.
Speaking on the milestone, Sandeep Arora, Head – Products & Marketing, Jana Small Finance Bank, said, “The milestone of 300 bank branches is a testament of our commitment to financial inclusion. We are committed to enrich the banking experiences of all of our customers, both individuals and businesses. We are glad that through our services, we are able to support the to grow, especially in the rural and unbanked sector in line with our mission as a bank.”
“Our employees create the deep relationship with customers through regular personal meetings. These meetings are important as they create the familiarity and trust to bring the unbanked into the banking fold. 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 loans, agriculture loans, individual loans, affordable housing loans and gold loans to cater to the diverse needs of customers.
Jana Small Finance Bank commenced operations in March 2018. By the end of financial year 2019-20, over 337 branches will be operational in 22 states and union territories, following conversion of many of its micro finance storefronts into bank branches.