Jana Small Finance Bank
Jana Small Finance Bank is a small finance bank that commenced operations on March 28, 2018. The Reserve Bank of India issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949. Prior to becoming a bank, the company was India's largest microfinance institution, Janalakshmi Financial Services, founded July 24, 2006. As a microfinance lender, the company survived large losses following the 2016 Indian banknote demonetisation, reporting total losses of ₹2,504 crore (US$385 million) at the time of its conversion to a small finance bank. Jana reported in November 2019 that the September 2019 quarter was its first profitable quarter since demonetisation.
- Kattoor, Jose J. (March 28, 2018). "Jana Small Finance Bank Limited commences operations" (PDF). Reserve Bank of India. Retrieved July 7, 2019.
- Gopakumar, Gopika (July 18, 2018). "Jana Small Finance Bank launches commercial operations". livemint.com. Retrieved July 7, 2019.
- "Jana Small Finance Bank Ltd". Bloomberg. Retrieved 7 July 2019.
- Dhanjal, Swaraj Singh (8 November 2019). "TPG Capital leads ₹225 cr funding round in Jana Small Finance Bank". livemint.com. Retrieved 12 November 2019.
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