The first all-woman Bharatiya Mahila Bank in the country open its branches in Delhi, Maharashtra and Madhya Pradesh.
The
Election Commission has allowed the launch of the first all-woman Bharatiya
Mahila Bank in the country tomorrow but asked government not to open its
branches in Delhi and Madhya Pradesh and neither do publicity of the bank in
these poll-bound states.
In
a letter to the Finance Ministry, the Commission has said government should
ensure that no publicity of the bank opening be done in poll-bound states.
Prime
Minister Manmohan Singh and UPA Chairperson Sonia Gandhi are expected to be
present at the inaugural ceremony of the country's first all-woman bank in
Mumbai tomorrow, coinciding with the birth anniversary of former Prime Minister
Indira Gandhi. Finance Minister P Chidambaram will also attend.
Government
earlier wanted to launch the bank in Delhi but changed its plan in view of the
Model Code of Conduct in force in the capital.
With
the inauguration of the bank, seven branches would become operational across
the country, including in Kolkata, Chennai, Ahmedabad and Guwahati. The
government proposed opening of the bank branches in Delhi and Indore also,
which has been disallowed by the poll body till the end of polls.
Headquartered
in Delhi, the bank proposes to have 25 branches by March 31, 2014.
The
Finance Minister had announced the setting up of the all-woman bank in his
Budget speech this year. The bank will be set up with an initial capital of Rs
1,000 crore.
The
Reserve Bank of India gave its in-principal approval for the Bharatiya Mahila
Bank in June.
Earlier
this week, the government appointed Usha Ananthasubramanian as the bank's
Chairperson and Managing Director.
"Women
are heads of many banks today, including two public sector banks, but there is
no bank that exclusively serves women. Can we have a bank that lends mostly to
women and women-run businesses, that supports women SHGs and women's
livelihood, that employs predominantly women, and that addresses gender-related
aspects of empowerment and financial inclusion? I think we can,"
Chidambaram had said.
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Source : PTI
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