Bharatiya Mahila Bank, the country’s first all-women
commercial bank, commenced its operations on Tuesday with seven branches.
However, doubts remain if the bank will succeed in achieving its objective of
economic empowerment of women in remote villages.
The setting up of the Bharatiya Mahila Bank is a
small step towards the economic empowerment of women. It is also a reflection
of our commitment to this cause. I am sure that the bank will fulfill the
objective with which it is being established, namely financial inclusion of
women and providing them equal and easy access of financial services,” said
Prime Minister Manmohan Singh while inaugurating the bank's first branch in
Mumbai's Nariman Point.
Bharatiya Mahila Bank has been set up with an
initial paid-up capital of Rs 1,000 crore. Led by Usha Ananthasubramanian, all the eight on the
board of directors of the bank are women. The bank aims to increase its branch
count to 25 by March 2014.
This is time to Lay the foundation for a Wealthy
Future....
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