Paving the way for setting up of all-women bank ,
the government on Thursday approved Rs 1,000-crore seed capital for Bhartiya
Mahila Bank Ltd.
The Cabinet cleared setting up of all-women bank, sources said.
The proposed bank will be headquartered inNew Delhi . It will start with 6 branches in
North, South, West, Central and North Eastern part of the country.
The bank is expected to become profitable in five years of its operation.
The initial capital of Rs 1,000 crore for the bank has been so decided that the bank is not capital constrained for expansion of normal business, he had said.
The move to set up Bhartiya Mahila Bank is aimed at encouraging women in general and women self-help groups (SHGs) in particular, he had said.
The proposed bank is likely to be operational by November this year.
The Cabinet cleared setting up of all-women bank, sources said.
The proposed bank will be headquartered in
The bank is expected to become profitable in five years of its operation.
The initial capital of Rs 1,000 crore for the bank has been so decided that the bank is not capital constrained for expansion of normal business, he had said.
The move to set up Bhartiya Mahila Bank is aimed at encouraging women in general and women self-help groups (SHGs) in particular, he had said.
The proposed bank is likely to be operational by November this year.
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