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Bharatiya Mahila Bank to open 55 branches in FY15

BMB is also offering women exclusive loans to set up daycare centres, beauty parlours and catering units

March 24, 2014 9:30 IST | India Infoline News Service
Bharatiya Mahila Bank (BMB), the first all-women bank, which opened its branch in Hyderabad on Saturday, will open 55-60 new branches in 2014-15 fiscal.
Speaking at the inauguration Usha Ananthasubramanian, chairperson and managing director, Bharatiya Mahila Bank, said that according to the RBI norms, 20 branches out of the proposed around 80 will be opened in the rural areas.
BMB opened its first branch in November 2013. The bank is designed to cater to the needs of women and offers the entire banking and financial services.
Apart from regular products, BMB is also offering women exclusive loans to set up daycare centres, beauty parlours and catering units.
BMB has tied up with New India Assurance Company Ltd to extend general insurance products to the poor and underprivileged and working women.

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