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Important SBI PO Important Questions With Answer Part 19 #SBI #Banking

BHARTIYA MAHILA BANK
 Bharatiya Mahila Bank is an Indian financial services banking company based in New Delhi, India.
 India’s Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 94th birth anniversary of former Indian Prime Minister Indira Gandhi.
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 Although initially reported as a bank exclusively for women, the bank will allow deposits to flow from everyone, but lending will be predominantly for women.
 In India, only 26% of women have an account with a formal financial institution, compared with 46% of men.
 That means an account in either a bank, a credit union, a co-operative, post office or a microfinance institution, according to a study by the World Bank.
 The bank will also place emphasis on funding for skills developments to help in economic activity. Moreover, the products will be designed in a manner to give a slight concession on loan rates to women.
 The bank shall also aim to inspire people with entrepreneurial skills and, in conjunction with NGOs, plans to locally mobilize women to train them in vocations like toy-making or driving tractors or mobile repairs, according to Usha Ananthasubramanian.
 The Bank’s initial capital consists of Rs 1,000 crores.
 The government plans to have 25 branches of the said bank by the end of March 2014 and 500 branches by 4th year of operation (2017).
 US-based FIS Global, in partnership with Wipro is leading the race for a Rs 1,000-crore contract to provide IT systems at the country‘s first women-focussed bank, it is reliably learnt.

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