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Jana Small Finance Bank extends overdraft facility against fixed deposits Customers can avail this facility instead of liquidating the FD to meet their liquidity requirements. To offer financial support to many affected by COVID-19, Jana Small Finance Bank Ltd has extended its Overdraft (OD) facility Against Fixed Deposit (FD) at a nominal interest rate to all its customers across India. The interest rate on this facility is 0.25 percentage points over and above the FD rate with a utilisation of 50 percent or more. Under this facility, up to 90 percent of the FD value can be availed as OD. The special pricing will be available to its existing customers till 31 ....
Jana Small Finance Bank launches ‘I choose my number’ feature May 11, 2021 Will allow its customers to choose their favourite numbers as the last 10 digits of their bank account Jana Small Finance Bank, on Tuesday, said its customers will now have the option of choosing their favourite numbers for their savings or current account. A press statement from the company said that the bank will allow its customers to choose their favourite numbers as the last 10 digits of their bank account, savings or current. The allocation of the account number chosen by the customer will be subject to the availability of the requested number. ....
Will the RBI liquidity window turn small banks big? SECTIONS Share Synopsis According to industry captains, the new facility would help them to get about 1-1.5% positive carry on the borrowed fund, even after investing the same amount into government securities as mandated by the central bank. Agencies The banking system including small finance banks is sitting on cash surplus of Rs 7.12 lakh crore. Small-finance banks are likely to turn more competitive with the latest Rs 10,000-crore support from the Reserve Bank of India (RBI) as they would get such funds at 4% for three years - a rate significantly below their average cost of funding. ....
Read more about RBI s Covid relief: SFB loans to MFIs get priority sector status on Business Standard. Special liquidity for SFBs to help low-income groups, say experts ....
The bank started with the vaccination of employees over 45 and paced up the efforts multi-fold as soon as the Department of Financial Services and Parliamentary standing committee recognised bankers as COVID warriors, thus making all its employees over 18 years of age eligible, the bank said in a release. ....