Money & Banking

Jana Bank to be sponsor bank for Ashoknagar Co-operative Bank

Our Bureau Bengaluru | Updated on October 16, 2020 Published on October 16, 2020

The partnership will enable Jana Bank to promote a full suite of services to co-op banks

Jana Small Finance Bank, a Bengaluru-based small finance bank (SFB), has partnered with Ashoknagar Co-operative Bank Limited under the bank sponsorship programme. With this, Jana Bank has become the first SFB to go live under the sponsorship programme.

Recently, the RBI permitted co-operative banks that are Core Banking Solution (CBS)-enabled, to issue ATM cards/ATM-cum-debit cards in a tie-up with a sponsor bank. Ashoknagar Co-operative Bank Limited, in association with Jana Small Finance Bank, can extend ATM, POS and e-commerce services to its customers. This association marks the fulfilment of Jana Bank’s endeavour to promote a full suite of services to co-operative banks.

Jana SFB launches digital banking platform

Serving the under-served

“It is wonderful joining hands with Ashoknagar Co-operative Bank Limited. We believe serving the co-operative sector is in line with the core belief of serving the under-served,” said Ajay Kanwal, MD & CEO, Jana Small Finance Bank.

“Ashokanagar Co-operative Bank recently launched ‘Rupay Debit Card’ facility for our customers with the sponsorship of Jana Small Finance Bank. The bank has already provided RTGS/NEFT, Bharat Bill pay facilities to our customers. To encourage cashless transactions, the bank is actively working out plans to introduce IMPS, UPI with Jana Small Finance Bank for the benefit of customers,” said KM Nagraj, President-Ashoknagar Cooperative Bank Ltd.

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Published on October 16, 2020
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