Bharatiya Mahila Bank

• Bharatiya Mahila Bank  (BMB) is an Indian financial services banking company based in New Delhi, India.
• .Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 94th birth anniversary of former Indian Prime Minister Indira Gandhi
•  Although initially reported as a bank exclusively for women, the bank allows deposits to flow from everyone, but lending will be predominantly for women
•  India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania
• The bank has been criticized as adopting a segregational approach to gender equality
• Usha Ananthasubramanian has appointed as Chairman and MD
• In India, only 26% of women have an account with a formal financial institution, compared with 46% of men. That means an account in either a bank, a credit union, a co-operative, post office or a microfinance institution, according to a study by the World Bank

• OBJECTIVES OF BMB

• The bank will also place emphasis on funding for skills developments to help in economic activity. Moreover, the products will be designed in a manner to give a slight concession on loan rates to women
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• The bank shall also aim to inspire people with entrepreneurial skills and, in conjunction with NGOs, plans to locally mobilize women to train them in vocations like toy-making or driving tractors or mobile repairs, according to Usha Ananthasubramanian

• One of the other objectives of the bank is to promote asset ownership amongst women customers. Studies have shown that asset ownership amongst women reduces their risk of suffering from domestic violence

• CAPITAL:

• The Bank's initial capital consists of Rs 1,000 crores. The government plans to have 25 branches of the said bank by the end of March 2014 and 500 branches by 4th year of operation (2017)

• BRANCHES:
• The government has chosen the iconic Air India building at Nariman Point in Mumbai to open the first branch of Bank
• The government has chosen the iconic Air India building at Nariman Point in Mumbai to open the first branch of Bank

• KEY MANAGEMENT:
• Initially the bank will have a board of directors consisting of eight women
• The board consists of a business graduate sarpanch from Rajasthan
•  Chhavi Rajawat,
•  Dalitentrepreneur Kalpana Saroj, who turned around a tubes business
•  retired public banker Nupur Mitra
•  academic Pakiza Samad
•  private equity professional Renuka Ramnath
• Godrej Group executive Director Tanya Dubash and Priya Kumar, a government nominee