The promoter of Jana Small Finance Bank is Jana Capital Limited, which is held by Jana Urban Foundation and other investors. Jana Urban Foundation, previously known as Janalakshmi Social Services, is a Section-8 not-for-profit company registered in June 2006.
Similarly one may ask, is Jana small finance bank private or government?
Jana Small Finance Bank is a Scheduled Commercial Bank. Established in Bengaluru in 2008, it has been recognized globally as one of the most innovative financial institutions working on financial inclusion.
Besides, which small finance bank is best?
Here are the top 10 small finance banks in India that offer competitive interest rates for fixed deposits:
- Equitas Small Finance Bank.
- AU Small Finance Bank.
- Capital Small Finance Bank.
- Fincare Small Finance Bank.
- ESAF Small Finance Bank.
- North East Small Finance Bank.
- Suryoday Small Finance Bank.
- Utkarsh Small Finance Bank.
Is small finance banks are safe?
If you are placing deposits in small finance banks, they are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakhs. … The insurance on fixed deposits upto Rs 5 lakhs, thus make investing in small finance banks safe to the extent of amount insured.
How safe is FD in Jana small finance bank?
Jana Small Finance Bank provides fixed deposits investment facility to its customers. The Bank provides highest interest of 7.25% to its customers. The interest rate provided by Jana Small Finance Bank is comparatively higher than any commercial bank. Also, the FDs are equally safe in this bank.
Is Jana small finance bank approved by RBI?
Jana Small Finance Bank Limited has commenced operations as a small finance bank with effect from March 28, 2018. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India.
Is Jana bank a government bank?
Jana Small finance bank has got the status of a Scheduled Bank. The Government notified this on July 27 2019, putting Jana Small Finance Bank on the list of the banks included in the 2nd schedule of RBI Act 1934.
Who is the CEO of Jana bank?
Ajay Kanwal
How do I start a small finance bank?
Make an Application with the RBI
The process of making this application is completely online. After this the NBFC would be started as a Small Finance Bank. After this is carried out the company or the entity would receive the CARN (Company Application Reference Number).
How reliable is Jana bank?
Jana Small Finance Bank
This is a small finance bank that was given a license a few years ago. Small finance Banks come under the purview of the RBI and hence can be considered as relatively safe. In fact, if you go for longer term tenures the interest rate is even higher.