Bharatiya Mahila Bank Ltd is launching several women-centric products in particular to encourage women entrepreneurs, according to CMD Usha Ananthasubramanian.
She was speaking here on Saturday after the first branch of the bank was inaugurated by Neetu Prasad, the district collector of East Godavari. The bank is designing special products for women engaged in manufacturing sector which bear a “made by women” stamp, she added.
The CMD said that the bank had launched some special deposit products for the girl children. The bank has recently introduced BMB Dhanvarsha 555, a special deposit product that offers interest of 9.70 per cent for senior citizens and 9.20 per cent for others. A customer from any part of the country could avail himself or herself of a locker facility from any branch of the Bank.
While deposit products were open for both men and women, loaning would be predominantly to women, Usha Ananthasubramanian said. "The bank is taking all possible efforts to provide all banking services and facilities under one roof to women of all segments of the society, including individual women, SHGs, salaried women, women entrepreneurs and women from the corporate sector," she said.
She said the bank would reach the unserved through brick and mortar branches as well as business correspondent and facilitator model. The rural connect will be through various latest, high secure technology platforms.
Neetu Prasad lauded the various initiatives of the bank towards economic empowerment of women.
The Bank is already present in Agartala, Agra, Ahmedabad, Alwar, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Dholpur, Gangtok, Goa, Guwahati, Gurgaon, Hyderabad, Indore, Jaipur, Kanpur, Kolkata, Kochi, Lucknow, Mumbai (2), New Delhi, Panchkula, Patna, Raipur, Ranchi, Shillong, Shimla and Thiruvananthapuram – all branches with onsite ATMs. Kakinada branch is the first in Andhra Pradesh.