Women's Bank to begin operations in November

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India's first Women's Bank, first announced in Budget 2013-14, is all set to become reality after a six member expert committee under chairmanship of MBN Rao (former Canara Bank chairman ) , submitted its road map. To start with Government has approved an initial outlay of Rs 1,000 crore.

  •  it will have six branches across the country by November 2013 one each in the four metro cities, while a fifth would be in central India and the sixth in the north east
  • Subsequently 25 more branches are planned by 2014 and would be increased to 300 in next four to five years.
  • The concept of all women bank is aimed at providing gender empowerment and financial inclusion. It will be set up as a public sector bank and will lend exclusively to women-run businesses and self help groups. However, male employees will be part of administration.
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