Inauguration of Bhartiya Mahila Bank (BMB) in capital city Delhi. Bharatiya Mahila Bank is the first all-woman bank in India.
Bharatiya Mahila Bank was inaugurated in Delhi,India on 5 Dec 2013. This recently launched commercial bank focuses on women empowerment and has seven branches till date.The eighth branch and also the bank’s registered office will be inaugurated by Finance Minister P. Chidambaram in the Capital Delhi on Thursday.
The other branches are located at Mumbai, Chennai, Kolkata, Bangalore, Lucknow, Ahmedabad and Guwahati.
Bank's initial consists of Rs.1000 crores.The Indian Government plans to have 25 more branches of the Bhartiya Mahila Bank(BMB) by the end of March 2014 and 500 branches of BMB by 4th year of operation.
The bank will also place emphasis on funding for skills developments to help in economic activity. Moreover, the products and service will be designed in a manner to give a slight concession on loan rates and service to women.
The bank aims to inspire women with entrepreneurial skills and plans to locally mobilize women to train them in vocations like toy-making or driving tractors or mobile repairs.The other objectives of the bank is to promote asset ownership amongst women customers.