Janalakshmi Financial Services, an Indian microfinance institution based in Bangalore, recently launched the JanaOne initiative, aimed at providing customers a “one-stop-shop” for all their financial needs.
As opposed to other branches of the microbank, JanaOne centers are exclusively focused on customers in the “Accelerator” segment, which is made up of those who have been with Janalakshmi for two or more years. The services offered at JanaOne branches include financial planning, product selection assistance and financial literacy tools. The first JaneOne center serves 9,285 customers.
As of March 31, 2010, Janalakshmi reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 25.5 million, a gross loan portfolio of USD 14.9 million, 82,000 active borrowers, return on assets (ROA) of -3.05 percent and return on equity (ROE) of -8.74 percent.
By Webster Hughes, Research Associate
About Janalakshmi Financial Services: Janalakshmi Financial Services (JFS) is a microfinance institution (MFI) located in India. It is focused primarily on offering loans, savings and microinsurance in urban areas. As of March 31, 2010, JFS reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 25.5 million, a gross loan portfolio of USD 14.9 million, 82,000 active borrowers, return on assets (ROA) of -3.05 percent and return on equity (ROE) of -8.74 percent.
Sources and Additional Resources:
Microfinance Gateway story, “Janalakshmi Launches JanaOne, A One-stop Shop for Customers with Financial Needs”, http://www.microfinancegateway.org/p/site/m/template.rc/1.1.16020/
MicroCapital.org story, May 7, 2012: “MICROCAPITAL BRIEF: Lok Capital to Exit Indian Microfinance Institution Janalakshmi”, https://www.microcapital.org/microcapital-brief-lok-capital-to-exit-india…
MicroCapital.org story, March 26, 2012: “MICROCAPITAL BRIEF: Business Standard Reports on “New Breed” of Small Indian Microfinance Institutions”, https://www.microcapital.org/microcapital-brief-business-standard-reports…
MicroCapital Universe Profile: Janalakshmi Financial Services, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Janalak…
Browse the MicroCapital Universe and add your entry to the wiki at: http://microcapital.org/microfinanceuniverse/tiki-index.php
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