Jana Small Finance Bank gets Scheduled Bank Status

Jana Small Finance Bank Ltd, which commenced banking operations in March 2018, has got the status of a Scheduled Bank. The Government notified this, putting Jana Small Finance Bank on the list of the banks included in the second schedule of RBI Act 1934.

Other Important Developments

• In October 2019, the Department of Post launched the mobile banking facility for all post office savings account holders of the CBS (core banking solutions) post office.
• Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY) stood at Rs 1.06 lakh crore.
• In October 2019, Government e-Marketplace (GeM) signed a Memorandum of Understanding (MoU) with Union ....