Investments made by BII in this company:
| Investment name | Commitment | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| Investment 01 | $49.66m | South Asia | Financial services | December 2015 | Exited |
Janalakshmi Financial Services Ltd
Janalakshmi Financial Services, now Jana Small Finance Bank, started its operations in 2006 as an Indian micro finance institution (MFI) to provide finance for the country’s low-income and underbanked population.
In 2017, the MFI was granted a Small Finance Bank licence, and the rebranded firm began banking operations in March 2018. The Bengaluru-headquartered bank currently has 15,000 direct employees.
It plans to convert most of its existing MFI branches into full-fledged bank branches across 18 states by the end of 2019. This includes 25 per cent of rural branches to serve the unbanked.