Tomorrow 19th Nov 2013 will be a historical day for Women empowerment in (already Women dominated) Indian Banking & Financial services. With Rs 1000 Crore (~$200 million) Government funding , a totally new National bank called Bharatiya Mahila Bank (BMB or Indian Women’s Bank) will be open at Mumbai’s landmark- Nariman Point.
Key objective of the Bharatiya Mahila Bank is “to focus on the banking needs of women and promote economic empowerment through women’s growth and development”
Bank will give services in Core Banking, Credit card, Consumer banking, Corporate banking, Finance and Insurance, Investment banking, Mortgage loans, Private banking, Private equity, Wealth management.
BMB will recruit mostly women employees all over India to serve especially Woman customers (Men can also open account). There is a plan to open about 200 branches of BMB banks all over India, run only by Women for Women empowerment.
Interestingly, Indian Banking sector is already dominated by Women executives. Top positions at many Indian & International banks, insurance and financial services in India are occupied by Women e.g. Morgan Stanley , JPMorgan Chase & Co, UBI, IL&FS, SBI, ICICI, NSE, Bank of America Merrill Lynch, HSBC, HDFC, ASIX Bank, Allahabad Bank, LIC, BOI, etc. See list of all Businesswomen in Indian Banking Sector – Here
There are few all-Women Bank branches of SBI already, but this is a whole new Government Bank By Women For Women!
Government of India appointed Mrs. Usha Ananthasubramanian as CEO/Chairperson and Managing Director. She has 31 years of experience in various Government Banks.
BMB bank website @ “bhartiyamahilabank.com”
Official Facebook page @ BhartiyaMahilaBank
Other information @ Wikipedia
Image Credits: Official BMB Bank page “bhartiyamahilabank.com” and Wikipedia for logo “en.wikipedia.org/wiki/Bhartiya_Mahila_Bank”
Sources: Google search, BhartiyaMahilaBank website and facebook page, Wikipedia, and all other links in the post.