Bharatiya Mahila Bank to be inaugurated
by PM on Indira Gandhi’s birthday
>> Prime Minister Manmohan Singh and
UPA Chairperson Sonia Gandhi will inaugurate country’s first all-women
Bharatiya Mahila Bank in Mumbai on November 19, the birth anniversary of former
Prime Minister Indira Gandhi.
>> With the inauguration of the bank,
seven branches would become operational across the country, including Kolkata,
Chennai, Ahemdabad and Guwahati.
>> Finance Minister P Chidambaram
will attend the inauguration of Mahila Bank by the Prime Minister, sources
said, adding that the UPA chairperson will grace the occasion.
>> Headquartered in Delhi, the bank
proposes to have 25 branches by March 31, 2014.
>> It will be inaugurated in Mumbai
as the model code of conduct is in force in Delhi which is going to polls in
December.
>> In Budget 2013-14, the Finance
Minister had announced setting up of all-women bank with an initial capital of
Rs 1,000 crore.
>> “Women are heads of many banks
today, including two public sector banks, but there is no bank that exclusively
serves to women. Can we have a bank that lends mostly to women and women-run
businesses, that supports women SHGs and women’s livelihood, that employs
predominantly women, and that addresses gender-related aspects of empowerment
and financial inclusion? I think we can,” Chidambaram had said.
>> The Reserve Bank of India gave its
in-principal approval for the Bharatiya Mahila Bank to be headquartered in
Delhi in June and the banking company is being set up.
>> Earlier this week, the government
appointed Usha Ananthasubramanian as the Chairperson and Managing Director of
the bank. Before joining Bharatiya Mahila Bank, she was an executive director
with Punjab National Bank.
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