Janalakshmi Social Services

Janalakshmi Social Services
General Information
Name of BC Company	Janalakshmi Social Services
States of Operations	Karnataka, Tamilnadu, Delhi/NCR
Banking Partners	Axis Bank
Technology Partner	Janalakshmi Financial Services Pvt Ltd
Year Established	2006
Overview
Janalakshmi Social Services, a section 25, not-for-project company was established in 2006 at Bangalore. Started by Mr. Ramesh Ramanathan, JSS has engaged itself with Urban Financial Inclusion and involved in areas of financial literacy, research and livelihood exchange programs. JSS being a holding company for its subsidiaries, Janalakshmi Financial Services Pvt. Ltd, an NBFC MFI, for Profit Company which is focusing only on Urban Financial Inclusion and Janaadhar Construction Co Ltd which is providing affordable housing for the urban poor in true sense.
Mode of Operations
1. No Frills Savings Account 2. Micro Care – Accident insurance product 3. Group Term Life Insurance product
Product Offered
Savings Product: The savings product is a no frill with low KYC product offered by Axis Bank with transaction thresholds being the same as prescribed by Reserve Bank. However, there are unique features about this product. First one being that the customers gets an instant kit immediately after opening the account consisting of debit card and the PIN. The first transaction happens on the GPRS enabled POS terminals of the bank; the account gets activated within 2 working days. The customers can access Axis Bank ATMs and other bank ATMs like any other customer of the Bank. Secondly, all the transactions like cash deposits, buying of insurance products etc. happens at the door steps of the customers and they need not have to walk in to the branch for any transactions. The customers can also avail other banking products like remittances, small value FDs and RDs shortly. Insurance Products: JSS along with Axis Bank, as part of the Urban Financial Inclusion Programme, launched micro insurance products – Micro Care, an accident insurance product along with Bajaj Allianz General Insurance Co. and Group Term Life Insurance Product along with Max New York Life Insurance Co. during July 2011. Over the last 4 months, more than 20,000 customers have got the benefit of micro insurance which was made available to them at very affordable prices. Both the products cover the insurer for a sum of Rs.25,000 and Rs.50,000 respectively for different exigencies of life. The customer has the option to open the No Frill Savings account only without going for the micro insurance product. With this initiative, JSS and Axis Bank are serving the underserved segment of Urban Poor with a gamut of financial products. The best part of this is that the customers can access their account, buy insurance products etc at their door step without even stepping out of their houses or work place which otherwise would have coasted them money and time.
Contact Details
Email	info@janalakshmi.com ksridhar@i25rural.org
Website	http://www.janalakshmi.com/
Fax	91-080-41525770
Telephone	1800-425-12222 (Toll Free)
Office Address	Rajashree Saroja Plaza, No 34/1, Andree Road, Shanthinagar, Bangalore - 560 027 Karnataka, India
Contact Person	Mr. Sridhar K
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