Bhartiya Mahila Bank, the first nationalised bank for women expected to be operational from November 2013.Bhrtiya Mahila Bank In its first advertisement on 18 September 2013 announced that the Bharatiya Mahila Bank (BMB) will recruit 115 vacancies from female candidates only.
Main Objective of Bhartiya Mahila Bank
The main objective of Bhartiya Mahila Bank is to focus on the banking needs of the women and promote economic empowerment. It will also addresses the gender related issues and helpful in financial inclusion.
Headquarter of Bharitiya Mahila Bank and branches
• The proposed bank will be headquartered in New Delhi.
• It will start with 6 branches in North, South, West, Central and North Eastern part of the country. Bharatiya Mahila Bank proposes to complete the first six branches at Mumbai, Delhi, Kolkata, Chennai, Indore and Guwahati by October 15.
About Bharitiya Mahila Bank
• The bank aims to service women and women-run businesses, support women’s self-help groups and their livelihoods and promote further financial inclusion in a country where only 35 percent of Indian adults have access to a bank account.
• An only-for-women bank first time in India.
• The announcement to set up all Women’s bank was made by Finance Minister of India P Chidambaram in the Budget speech 2013-14.
• The Cabinet cleared the proposal for setting up of all-women bank on August 2013.
• The government has approved 1000 crore Rupees seed capital for Bhartiya Mahila Bank.
• Reserve Bank of India gave its in-principal approval for the Bharatiya Mahila Bank in June 2013 and the banking company is being set up.