Jana SFB to apply for universal bank licence in 2025: MD

Jana Small Finance Bank (SFB) plans to apply for a universal bank licence in 2025, aiming to simplify consumer understanding and enhance deposit mobilisation. The RBI's April 2024 guidelines facilitate this transition by outlining stringent criteria including net worth, profitability, and asset quality metrics for SFBs. \r

Jana SFB, with a robust financial standing including a net worth of Rs 3,577 crore, aims for 20% year-on-year loan growth in FY25. The bank will prioritize secured assets, aiming for 65% in its loan mix. \r

Deposit growth will align with credit expansion, with efforts to increase CASA to 30% over three years, bolstered by strategic management of bulk deposits ensuring stability amid evolving market conditions.