Bharatiya Mahila Bank (BMB)

Bharatiya Mahila Bank (BMB)

Bharatiya Mahila Bank

Established: 13th November 2013 (on the occasion of the 96th birth anniversary of former Indian Prime Minister Indira Gandhi)

Headquarter: New Delhi Bharatiya Mahila Bank

Paid-up capital: 1000 cr.

Chairman: Mrs. Usha Ananthasubramanian Bharatiya Mahila Bank

Managing director: S M Swathi

Interest rate on savings account: 4% (Up to 1 lakh), 4.5% (above 1 lakh)

  1. Bharatiya Mahila Bank was wholly owned by the Government of India
  2. India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania
  3. The bank was merged with State Bank of India on 31 March 2017.

An objective of Bharatiya Mahila bank

  1. To give a slight concession on loan rates to women.
  2. To promote asset ownership amongst women customers Bharatiya Mahila Bank

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