Tuesday, March 24, 2015

Bharatiya Mahila Bank to have 60 branches by March 31

BMB chairman Ananthasubramanian 
BHARATIYA Mahila Bank will launch nine more branches by March 31 to close the fiscal with a network of 60 outlets. This was disclosed by Bharatiya Mahila Bank chairman and managing director Usha Ananthasubramanian.
"The number of branches of the bank will be increased to 60 by the end of this financial year (2014-15)," Ananthasubramanian told reporters after inaugurating the bank's 51st branch in Vijaywada on March 23.
She said...
the bank is keen on tapping business potential in women to contribute to the economic development of the country.
The bank, which is wholly owned by the Central government, has several facilities for the customers. They include internet banking, mobile banking and high speed SMS and hashtag banking for easy and quick operations, she said.
She was speaking at a function after inaugurating Satyanarayanapuram branch, 51st in India.
Some of the women-centric products offered by the bank include BMM Annapurna - Catering Service Loan, BMB Parvarish - Child Day Care Centre Loan and BMB Shringaar - Beauty Parlour Loan, BMB Money box helps children get into the savings habit and an unique Recurring Deposit Product Komal Kali to empower the girl child and helps her take up economic activity as she turns 18.
All India Radio deputy director M Krishna Kumari lauded the bank during the inauguration of third branch in Andhra Pradesh, for its efforts towards economic empowerment of women.
She said, the bank plans to open some more branches next year. However, such a decision would be taken by the Board.
The deposits of the bank stand at Rs 800 crore and advances at Rs 400 crore, she said.
BMB provides internet banking and very soon it would introduce mobile banking on the Android platform for the benefit of its customers.
The deposits of the bank stand at Rs 800 crore and advances at Rs 400 crore, she said.
She said, the bank's priority is to improve financial literacy among women and it provides loans to women entrepreneurs to set up small businesses in order to become self-reliant.
Launched in 2013, BMB is the is the first of its kind in the country's banking industry, formed with a vision of economic empowerment for women. 

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