Introduction
The Bhartiya Mahila Bank in short BMB is basically a banking institution offering banking and financial services. It was incorporated in the year 2013 on 5th of August, under the Companies Act of 1956. It soon got its certificate of commencement of business on 22nd of the same month and later received its banking license from the Reserve Bank of India on September 25th. It is operating in New Delhi and was then inaugurated on 19th of November 2013 by Dr. Manmohan Singh, the former Indian Prime Minister on the auspicious occasion of Indira Gandhi's 94th birth anniversary in Mumbai.It is operating in New Delhi with its head quarters situated there. Having 25+ branches across India it is planning to extend its destinations further more. It has been initiated with an initial investment of Rs 1000 crores.The Bank's logo itself conveys the basic theme by which it was incorporated and for what it operates for. Its main motto is to empower women and through that to empower the nation, though its privileges are open to all classes of women, focus is given to the women who are considered as economically backward irrespective of the rural or urban back grounds.
This is to ensure a sustainable growth and their upliftment in the society. The bank has the support of experts with rich experience and professionalism in the back ground that has been exclusively designed to bring out products and services that cater to the needs of women belonging to all layers of the society. It accepts deposits from everyone but preference is given to women on lending. India became the third amongst the other countries to open a bank exclusively for women.
Key areas of focus:• Financing for development of skills for women to indulge in economic activities.
• Inspire people who possess entrepreneurial skills.
• Training women in fields of toy making, repairs or driving tractors joining hands with NGO's.
• Promoting the idea of owning assets by women so that this will serve as a support when they suffer from domestic violence.
One of the key objectives of the bank is to keenly focus on the banking needs of women, their growth and development and through this to empower women economically and so most of the products offered is given on concession on the rate of interest for their women customers. It also conducts various programs on awareness regarding financial dealings, development of skills, mainly focusing on training women belonging to all segments of the society, to bring out their hidden capabilities into light by that way generating more income, job and growth opportunities for them and for the country as well.
Board Members:
The back bone of Bhartiya Mahila bank is its board of directors. Here also it possesses strong feminine influence with eight of its directors being females:
• Ms. Usha Ananthasubramanian, Chairman and the Managing Director
• Ms. Kalpana Saroj, Director
• Ms. S M Swathi
• Ms. Nupur Mitra, Director
• Dr. Pakiza Samad, Director
• Ms. Tanya Dubash, Director
• Ms. Renuka Ramnath, Director
• Ms. Chhavi Rajawat, Director
• Dr. N. Srinivasa Rao
Products: Products that are dealt by Bhartiya Mahila bank are:
• Deposit Products
Under this the available facilities are:
• Recurring Deposit Account
• Savings Account
• BMB Tax Savings Scheme
• Current Account
• Fixed Deposit Account
• Loans
Under this the available loan facilities are:
• Loans to Self Help Groups (SHG•s)
• Kitchen Modernization Loan
• Loans to small and medium enterprises (SME)
• Home Loan
• Car Loan
• Loans to Professionals
• Loans to Students
• Advance against Securities
• Easy Banking
The facilities available under this are:
• BMB International Debit Card
• BMB Credit Card - Gold & Platinum
• Deposit Rates
The bank offers interesting rates of interest for its customers
• Insurance
The bank provides services such as:
• BMB-Nirbhaya
• BMB-Sakhee
• BMB-Parivar Suraksha
The bank has its branches across the country in Agartala, Agra, Ahmadabad, Alwar, Bangalore, Bhubaneswar, Chandigarh, Chennai, Dehradun, Delhi, Dholpur, Gangtok, Goa, Gurgaon, Guwahati, Hyderabad, Indore, Jaipur and Kanpur dedicatedly working for the betterment of women.
Website www.bmb.co.in
Contact details:IFCI Towers
9th Floor
61, Nehru Place
New Delhi - 110 019
Telephone no: 011-47472100