Jana Small Finance Bank (Jana SFB), one of India’s largest small finance banks, has formally applied to the Reserve Bank of India (RBI) for a Universal Banking license, marking a strategic step in its expansion roadmap.
The move comes as Jana SFB aims to widen its service offerings and transition into a full-spectrum bank. “Applying for a Universal Banking license is a natural progression,” said Ajay Kanwal, MD & CEO of Jana SFB. “We aim to be the Anchor Bank to a Rising and Atmanirbhar India.”
Since obtaining its SFB license in 2017, Jana has built a solid deposit and loan portfolio with a strong national presence across 23 states and 2 union territories. With over 800 branches and a customer base of more than 12 million, the bank has evolved into a robust institution, focusing on retail, MSME lending, and financial inclusion. In Guwahati, Jana SFB has seen steady growth, particularly in the MSME and secured loan segments, driven by local entrepreneurs and self-employed individuals. The proposed transition is expected to strengthen its footprint further in the Northeast, enhancing banking access and digital services in Assam’s capital and beyond.