Channel J Soft launch
Channel J Workshop highlights
Janalakshmi is the largest and fastest-growing microfinance institution in India and is among the largest issuers of pre-paid cards and micro-pensions in the country. The company began in 2000 and after a six-year period established itself as Janalakshmi, a standalone, purpose-driven, for-profit institution focused on improving the lives of the urban poor. In the Financial year 2015-16, JFS had 330 branches spread over 18 Indian states covering 184 cities which catering to a customer base of 46 lakhs. Its loan portfolio was more than Rs. 10,000 crore. While its core product is Small Batch (SB) loans disbursed to Joint Liability Groups, Janalakshmi also provides individual loans to those who have demonstrated a successful credit track record as borrowers under the SB format, as well as loans to micro and small and medium enterprises (MSMEs). Janlakshmi’s promoter is the Jana Urban Foundation, a Section 8 company that undertakes various activities to deepen understanding of the challenges around financial inclusion, as well as address policy issues via education, skill development, community connectivity, and financial advisory initiatives.
Janalakshmi Financial Services has been granted in-principle approval by RBI to convert itself into a Small Finance Bank. – less