Today, Chennai got its first branch of Bharatiya Mahila Bank.
The only-for-women bank, conceptualised by the Union Government and announced by the Finance Minister, P. Chidambaram in the Budget 2013, was also launched in six other cities as well at the same time.
Inaugurating the branch in the presence of M. Narendra, Chairman and Managing Director of Indian Overseas Bank and T.M. Bhasin, Chairman and Managing Director of Indian Bank, Snehalatha Shrivastava, Additional Secretary in the Union Finance Ministry, said it took just nine months for the Government to give a shape to its concept and launch the product.
She said that women were grossly an under-utilised economic asset in the world scenario. Women literacy and empowerment will not only strengthen the gender, but will also contribute to the GDP in a big way, she said.
She also handed over loan agreements and deposit certificates to a few women on the occasion.
ravikumar.r@thehindu.co.in