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First women’s bank to be opened in Chennai
Posted on: 15/Nov/2013 4:14:46 PM
Prime Minister Manmohan Singh and UPA chairperson Sonia Gandhi will inaugurate the country`s first women`s bank, Bharatiya Mahila Bank on 19th November. On the same day, the bank`s branches in Chennai, Mumbai, Bangalore, Kolkata, Ahmedabad, Lucknow and Guwahati will begin operations. The Chennai branch is located on Anna Salai.
Usha Ananthasubramanian, the newly appointed CMD of the bank said, “The bank will be fully owned by the government of India. We would like to make this institution a commercially viable banking entity that provides timely credit to women.”
Traditionally, south India has led the way in microfinance and activities among women`s units. The all-women bank is set to take this forward with specific products designed for women. Bharatiya Mahila Bank will commence operations with nearly 200 women employees.
The bank would initially offer products relating to current account, savings account, deposit and loan products, credit and debit cards and internet banking facilities. And while deposit mobilization is expected to be gender-neutral, in terms of loan disbursals there would be a `positive skew` towards women.
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