Jana Small Finance Bank Limited — Credit Ratings, 08-10-2025: Credit Rating

India Ratings and Research has affirmed Jana Small Finance Bank's Subordinate Debt, Non-Convertible Debentures, and Fixed Deposits at 'IND A' with a 'Stable' outlook. This reflects the bank's diversified loan portfolio with a growing share of secured assets, adequate capitalisation, and consistent profitability. Key areas to monitor include its ability to attract low-cost deposits and manage refinancing risks at its holding companies.