Jana Small Finance Bank is a small finance bank that commenced operations on March 28, 2018, headquartered in Bangalore, India.[2]
History
The Reserve Bank of India issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949.[3] Prior to becoming a bank, the company was India's largest microfinance institution, Janalakshmi Financial Services,[4] founded July 24, 2006.[5] [6] As a microfinance lender, the company survived large losses following the 2016 Indian banknote demonetisation, reporting total losses of ₹2,504 crore (US$ million) at the time of its conversion to a small finance bank.