The Bharatiya Mahila Bank (BMB), an all-woman national financial institution, marked its journey in Tripura on Monday with the bank’s Chairman and Managing Director Usha Ananthasubramanian inaugurating the BMB’s 20th branch in Agartala.
The Agartala branch is the second branch of the bank in the northeast after the Guwahati branch which was opened soon after the BMB was established last year.
Branches will be opened this week at Shillong and Itanagar too. “The BMB is unique in nature, providing support to women at large from both urban and rural sectors,” said Ms. Ananthasubramanian after the formal inauguration.
She said the basic concept of the bank was to empower women and help them transact financial services, some of which are specially designed to accommodate women.
“We are planning to create 80 branches, mainly in rural areas, by 2015. Our endeavour would also encourage entrepreneurship of numerous women,” she said adding that her bank offered easy loan facilities to women to set up business and trade.
The BMB is India’s first 100 per cent government-owned women’s bank with a Rs.1,000-crore capital from the Central government.
Correction and clarification
The Bharatiya Mahila Bank - was India’s first 100 per cent government-owned women’s bank with a Rs.10,000-crore capital from the Central government. It should have been Rs.1,000-crore capital .
