WOMEN BANK TO BE LAUNCHED ON INDIRA'S
BIRTHDAY
Plans
are afoot to launch the country's first all women bank Bharatiya Mahila Bank on November 19, the birth anniversary of former Prime
Minister Indira Gandhi.
"We
have asked the Election Commission it (the bank) might be as well inaugurated
on November 19. All work has been completed" Finance Minister P
Chidambaram said at a press conference here.
The government is seeking Election Commission's nod for launch of the bank,
proposed in the Union Budget, as the process of assembly elections in five
states, including Delhi, is on.
The public sector Bharatiya Mahila Bank proposes to have 25 branches by March
31, 2014.
The government has already approved Rs 1,000 crore seed capital for the women
focused public sector bank, announced by Finance Minister P Chidambaram in his
budget speech.
The proposed bank, to be headquartered at Delhi, is likely to be operational by
November this year.
Reserve Bank of India gave its in-principal approval for the Bharatiya Mahila
Bank in June and the banking company is being set up, the official added.
One of the key objective of the Bank is focus on the banking needs of women and
promote economic empowerment.
The bank has invited applications through online mode from female candidates
for 115 posts.
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