Bharatiya Mahila Bank


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.

Bharatiya Mahila Bank Ltd is the first of its kind in the Banking Industry in India formed with a vision of economic empowerment for women. Incorporated under the Companies Act 1956 on 5 August 2013, the Bank received the certificate of commencement of Business on 22 August 2013 and the Banking License from RBI on 25 September 2013. The Bank's Corporate Office is at the IFCI Towers, 9th floor, Nehru Place, New Delhi .
Launched in 2013, the Bank has carved a niche for itself as a pan India Bank and presently, has over 100 branches across the country.
While the Bank focuses on the entire pyramid of Indian women, special attention is given to economically neglected, deprived, discriminated, underbanked, unbanked, rural and urban women to ensure inclusive and sustainable growth. The Bank with a team of professionals with rich experience and expertise has designed and developed new products and services to suit the needs of women of all segments including Self Help Groups, women entrepreneurs, salaried women, HNIs and Corporates.
The Savings Bank rate of interest for Rupees One lakh and above is 5% and for amount less than Rs. One lakh, the interest rate is 4.5%. The Bank has designed many women centric products keeping in mind the core strengths of women so as to enable them to unleash their hidden potentials, engage in economic activities and contribute to the economic growth of the country. Most of the products are offered with a concession in the rate of interest for women customers.
The Bank offers BMB Smartbanking – the internet banking facility with many value added features. The customers can open Recurring Deposits, Fixed Deposits etc through internet banking. When in need they can also access such Fixed Deposits to avail premature facility. The Bank’s Mobile banking App can be freely downloaded from Google Play Store for Android mobiles and Apple Store for iphone. Bank is one of the pilot Banks for introduction of the new payment system UPI, launched by NPCI.
The Bank also conducts programmes on financial literacy, skill development, training for women of all segments of the society so that women in turn generate more income, more jobs and growth opportunities and contribute significantly for the economic growth of the nation.
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). It is a 100% PSB. HQ- Delhi
Mission
To be the Bank of Best Option for all women, thereby ensuring a place of pride for Indian Women, across the globe.
To promote Financial Literacy.
To support women’s livelihood.
To facilitate inclusive growth.
To constantly innovate, design and develop new products, services and facilities for women across all strata, to suit their needs right from birth throughout their entire life span and beyond.
To provide hassle free access to all banking and financial products, services and facilities.
To encourage women entrepreneurship.
To eliminate lending bias against women.
To educate and embolden women to establish their rights to asset ownership.
To instill confidence in women to avail of banking services with a free, non-hesitant; bold mindset.
To cater to the banking and financial needs of all including the third gender and men.
To adopt new technologies and low cost, highly efficient delivery models and mechanisms.
To reach out to Self-Help Groups and Joint Liability Groups.
To perform effectively and efficiently to result in financial viability and sustainability of the Bank.
To operate, following global best practices in the interest of all stakeholders.
 



Thursday, 15th Dec 2016, 10:04:08 AM

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