Jana Small Finance Bank (Jana SFB) has formally submitted its application to the Reserve Bank of India (RBI) for a Universal Banking license, marking a significant milestone in the bank’s transformation journey.
The move signals Jana’s ambition to evolve into a full-service bank, broadening its offerings and strengthening its commitment to inclusive and sustainable banking. Since receiving its small finance bank license in 2017, Jana has steadily built a robust presence across India, catering primarily to the underbanked segments through both digital and physical channels.
“Applying for a Universal Banking license is a natural progression for Jana Bank,” said Ajay Kanwal, Managing Director and CEO of Jana Small Finance Bank. “Our mission has always been to serve the underserved and build a bank that’s inclusive, agile, digital and forward-looking. Becoming a Universal Bank will enable us to offer a broader range of services and become the Anchor Bank to a Rising and Atmanirbhar India.”
Over the years, the bank has strengthened its retail and MSME franchise, with a growing deposit base, stable asset quality, and national footprint. Jana has also invested significantly in digital infrastructure, positioning itself as a modern financial institution aligned with India’s evolving banking needs.
With this application, Jana joins a select group of small finance banks looking to graduate to universal banking status — a transition that would allow it to diversify its portfolio, scale operations, and enhance its competitiveness in the financial ecosystem.
The RBI’s approval will be a critical next step in Jana’s mission to deepen financial access and deliver a broader array of services to individuals, businesses, and institutions across the country.
