Bharatiya Mahila Bank Ltd at Agartala

Bharatiya Mahila Bank Ltd is the first of its kind in the Banking Industry in India formed with a vision of economic empowerment for women. Incorporated under the Companies Act 1956 on 5 August 2013, the Bank received the certificate of commencement of Business on 22 August 2013 and the Banking License from RBI on 25 September 2013. The Bank’s Corporate Office is at the IFCI Towers, 9^th floor, Nehru Place, New Delhi .

The Bank was inaugurated on 19 November 2013 by Hon’ble Prime Minister of India, Dr.Manmohan Singh and Smt Sonia Gandhi, Chairperson, UPA on the occasion of the 94th birth anniversary of former Indian Prime Minister Indira Gandhi. India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania.

The Bank will focus on the entire pyramid of Indian women, special attention to economically neglected, deprived, discriminated, underbanked, unbanked, rural and urban women to ensure inclusive and sustainable growth. The Bank with a team of professionals with rich experience and expertise has designed and developed new products and services to suit the needs of women of all segments including Self Help Groups, women entrepreneurs, salaried women, HNIs and Corporates.

The Savings Bank rate of interest for Rupees One lakh and above is 5% and for amount less than Rs. One lakh, the interest rate is 4.5%. The interest for deposits of one year is 9%. With working women in mind, the Bank has designed a special loan product for creating an efficient kitchen. Educational loan, loan for day care centers, vehicle loan, home loan are some of the other loan products that have been designed for the benefit of women.

The Bank will also conduct programmes on financial literacy, skill development, training for women of all segments of the society so that women in turn generate more income, more jobs and growth opportunities and contribute significantly for the economic growth of the nation.

The Bank with an all women Board of Directors is headed by Mrs. Usha Ananthasubramanian as Chairman and Managing Director of the Bank. The Bank has become operational within a short span of time after the announcement was made by Hon’ble Finance Minister Shri P Chidambaram in his budget speech. The Bank has been allocated with an initial capital of Rs. 1000 Crores.

The 20^th branch will be inaugurated on 24^th March, 2014 at 11:00 a.m. by Mrs. Usha Ananthasubramanian, Chairman and Managing Director of the Bank at R.L. Tower, Math Chowmuhani, A.A. Road, Agartala, West Tripura, Pin-799002.

All the BMB branches, including four in northeastern states, taking the total branch strength to 25 presently. Its branches are at Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati, Lucknow, Hyderabad, Chandigarh, Shimla, Bhubaneswar, Jaipur, Dehradun, Patna, Naya Raipur, Panaji, Srinagar, Thiruvananthapuram, Ranchi and four capital cities of the northeastern states in Agartala (Tripura), Shillong (Meghalaya), Gangtok (Sikkim) and Itanagar (Arunachal Pradesh).