BHARATIYA MAHILA BANK

It is an Indian financial services banking company based in New Delhi, India. India's 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. Usha Ananthasubramanian is the first CMD of the bank. Although initially reported as a bank exclusively for women, the bank will allow deposits to flow from everyone, but lending will be predominantly for women.  The move has been criticized as it treats women "differently". This fact is "guised in many forms, some in garbs of reverence, some as protection, but they are all forms of discrimination that promote gender-based stereotyping.

Highlights

1. 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).
2. 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.
3. 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 (CMD).
4. 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.
5. US-based FIS Global, in partnership with Wipro is leading the race for a Rs 1,000-crore contract to provide IT systems at the country’s first women-focused bank, it is reliably learnt.
6. The government has chosen the iconic Air India building at Nariman Point in Mumbai to open the first branch of Bank.
7. The Bharatiya Mahila Bank, which started operations from November 2013, is planning to open a modest 33,400 accounts through 39 branches in its first year.
8. Initially the bank will have a board of directors consisting of eight women.
9. The board consists of a business graduate sarpanch from Rajasthan, Chhavi Rajawat, Dalit entrepreneur 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.