Jana Small Finance Bank shares zoom 12% on getting AD-I licence from RBI

Jana Small Finance Bank shares zoomed 11.66 per cent on BSE, logging an intraday high at Rs 489.8 per share. The buying on the counter came after the Reserve Bank of India (RBI) granted the bank licence to act as Authorized Dealer Category-I (AD-I).

 

Around 12:19 PM, Jana Small Finance Bank share price was up 11.66 per cent at Rs 489.8 per share on BSE. In comparison, the BSE Sensex was down 0.14 per cent at 74,233.79. The market capitalisation of the company stood at Rs 5,118.95 crore. The 52-week high of the stock was at Rs 760.85 per share and the 52-week low was at Rs 364 per share. 

 

"We wish to inform that the Reserve Bank of India vide its letter dated 06th March 2025 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange subject to compliance of applicable regulations in this regard," the filing read.   READ: 63 Moons hits 5% upper circuit on settling NSEL payments crisis case

 

Under Section 10 of Foreign Exchange Management Act (FEMA), the RBI has the power to regulate foreign exchange transactions and authorise specific financial institutions to act as intermediaries for such transactions. These institutions are classified into two main categories: Category-I (AD-I) and Category-II (AD-II).

 

Category-I authorised dealers include major commercial banks in India, which have the required infrastructure and expertise to manage complex foreign exchange and cross-border transactions. 

 

Jana Small Finance Bank is the fourth largest Small Finance Bank, in terms of asset under management (AUM) and the fourth largest Small Finance Bank in terms of deposit size as of March 31, 2023, as per their official website. 

 

As at September 30, 2023, the small finance bank had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and two union territories. They have served nearly 12 million customers since 2008, including 4.87 million active customers as at September 30, 2023.

 

In the past one year, Jana Small Finance Bank shares have gained 0.88 per cent against Sensex's rise of 0.29 per cent.