BHARATIYA
MAHILA BANK INCLUDED IN 2ND SCHEDULE TO RBI ACT
India’s first all-women lender, the Bharatiya Mahila Bank has been included in the second schedule or the commercial
bank category of the RBI Act. RBI made this announcement in a
notification issued in Mumbai today.
Post inclusion, the Bharatiya Mahila Bank becomes eligible for loans from RBI
on bank rate and also acquires membership of clearing houses. The inclusion
also provides that any activity of the bank would not adversely affect the
interests of depositors.
The Bharatiya Mahila Bank started in November 2013
with a seed capital of Rs 1,000 crore. One of its key objectives is to focus on
the banking needs of women and promote economic empowerment. The current loan
portfolio of the bank is about Rs 80-90 crore.
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