Union Finance Minister Nirmala Sitharaman virtually inaugurated five Nari Shakti branches of Union Bank of India from Bengaluru. Speaking at the inauguration, she urged the bank to develop technology-driven, cluster-based schemes specifically tailored to support women, aiming to empower female entrepreneurs and strengthen financial inclusion for women across the country.
Furthermore, she encouraged women entrepreneurs to make use of these schemes and contribute to job creation.
The Nari Shakti operates with a focus on extending credit to women entrepreneurs. In addition to financing women-owned manufacturing and service units, the bank will also focus on advisory services, workshops on start-ups, skill development programs, mentorship, networking, and collaborations. Union Bank of India has opened Nari Shakti branches in Bengaluru, Chennai, Visakhapatnam, and Jaipur.