Jana Small Finance Bank has received licence from Reserve Bank of India (RBI) 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.
Authorized dealer Category I Banks, popularly known as AD Cat I Banks, are the banks with an RBI license to buy and sell foreign exchange for specified purposes. Such banks aim to ease the foreign exchange facilities for NRI.
Jana Small Finance Bank is a non-banking finance company (NBFC) primarily engaged in providing MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans and gold loans.
