Jana Small Finance Bank soars on RBI forex license approval

Jana Small Finance Bank spurted 9.80% to Rs 481.65, following the Reserve Bank of India's (RBI) approval for the bank to operate as an Authorized Dealer Category-I (AD-I) in foreign exchange.

The RBI, in a letter dated 6 March 2025, granted the license to Jana Small Finance Bank under Section 10 of the Foreign Exchange Management Act (FEMA), 1999. This authorization allows the bank to deal in foreign exchange, subject to compliance with applicable regulations.

The AD-I license empowers Jana Small Finance Bank to expand its service offerings, providing customers with enhanced access to foreign exchange services.

Jana Small Finance Bank, a scheduled commercial bank, is the 4th largest small finance bank in India. The bank has national presence across 22 states and 2 union territories, spread across 778 branches.

 

Jana Small Finance Bank's net profit fell 17.81% to Rs 110.66 crore on 15.06% increase in total income to Rs 1,354.82 crore in Q3 December 2024 over Q3 December 2023.

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