Jana Small Finance Bank plans to have 500 branches by 2019

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Jana Small Finance Bank is all set to expand its footprint, with the bank planning to have a total of 500 branches across the country by March next year. The bank is likely to recruit around 1,000 new employees in this fiscal to cater to the expansion.

Gold-loan
Jana Small Finance Bank offers products like gold loans, fixed deposits, business loans, etc.

The bank, which received its small finance bank license from the Reserve Bank of India in April 2017 commenced banking operation in March 2018, with 151 branches located across the country. The bank aims to have branches in 19 Indian states by March next year.

Jana Small Finance Bank currently has around 15,000 employees.

The bank currently offers a range of products such as savings accounts, gold loans, business loans, agricultural loans, fixed deposits, etc.

According to the report by Business Standard, 150 of the proposed 500 branches would cater to small and medium enterprises.

The bank was previously called Janalakshmi Financial Services, which was established in 2008.

Jana Small Finance Bank is headquartered in Bengaluru and caters to around 45 lakh customers.

Sources: Business Standard, Jana Small Finance Bank.

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