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Jana SFB tied up with Axis Securities to Offer Services through a 3-in-1 Account

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Jana Small Finance Bank ties up with Axis Securities to offer servicesOn April 7, 2021, Jana Small Finance Bank (Jana SFB) made a tie-up with Axis Securities, a wholly-owned subsidiary of Axis Bank, to offer banking and investment services to its customers through a 3-in-1 account.

Features of the 3-in-1 account:

  • The 3-in-1 account integrates the Savings Bank Account maintained by Jana Small Finance Bank &Demat and Trading Accounts maintained by Axis Securities
  • It will be useful for the customers to transfer funds quickly by reducing paperwork.
  • It will provide a single platform to invest in various investment instruments including Mutual Funds, Systematic Investment Plan (SIP), equities and other investment avenues offered by Axis Securities.
  • The customers can choose from the various services of Axis Securities for investing like Mutual fund investing, Stockbroking, Investment advisory and portfolio management services, along with the opening of a Trading / Demat account.

What is SIP?

  • SIP is an investment plan in which investors can make regular, equal payments into a mutual fund, trading account, or retirement account.  Investors can invest a pre-decided amount every month in the MF scheme of their choice.
  • SIPs are open-ended, i.e. customers can initiate or terminate a SIP at any time. There is an option of pausing your SIP for a while if you don’t have enough money to invest.

About Small Finance Bank:

  • They are established as public limited companies in the private sector under the Companies Act, 2013 and governed by the provisions of RBI Act, 1934 and Banking Regulation Act, 1949
  • Eligibility: Resident individuals/professionals with 10 years of experience in banking and finance will be eligible as promoters to set up small finance banks.
  • Capital Requirement: The minimum paid-up equity capital should be 200 crores (US$28 million).

Recent Related News:

On October 16, 2020, Jana Small Finance Bank(SFB) became the Sponsor of the Bank of Ashoknagar Co-operative Bank Limited. With this partnership, Jana SFB becomes the 1st SFB to go live under the bank sponsorship programme.

About Jana Small Finance Bank:

Establishment – 2008
Headquarters -Bengaluru, Karnataka
MD & CEO -Ajay Kanwal

About Axis Securities:

Establishment – 2010
Headquarters – Mumbai, Maharashtra
MD & CEO – B Gopkumar