Bharatiya Mahila Bank sets up branch in Bihar
The Bharatiya Mahila Bank (BMB) set up its first branch in Patna, Bihar. The bank would cater to financial inclusion of women of all segments from Self-Help Groups to lower middle class women to High Networth Individuals with a basket of products to ensure inclusive and sustainable growth.
About BMB’s first branch in Patna
- Tied-up with New India Assurance Company Ltd– For providing general insurance products, this would cater to needs of women at bottom of the pyramid, working women and also for their families.
- Would empower women and broaden their social base of development for equitable growth.
- Would conduct programmes on financial literacy, skill development and training for women to enable them to get jobs and enter business ventures.
About Bharatiya Mahila Bank (BMB)
- India’s first all-women public sector bank.
- Objective: Focus on the banking needs of the women and promote economic empowerment. It will also address the gender related issues and will be helpful in financial inclusion.
- CMD: Usha Ananthasubramanian.
Note: The BMB has planned to increase the number of branches to 25 by the end of 2014.
Categories: Banking Current Affairs 2018