“I shall provide 1,000 crore as initial capital. I hope to obtain the necessary approvals and the banking licence by October, 2013, and I invite all Honorable Members to the inauguration of the bank shortly thereafter,” the Minister announced amidst a thunderous applause from members.
In the last few days, there has been a flurry of activity, as the target to inaugurate the Bank is October, 2013.
Today, RBI Officials have met PSU Bank Chiefs to finalize the blue print of the new bank.
It is understood that initially it would start with at least one branch in each major region of this country, South, West, East, Centre, North and North-east.
The Finance Minister has also said that he would assemble the best brains from the industry to chalk-out a blueprint on the bank by month-end.
So be ready to witness lots of action around the Women’s Bank.
At present, there are quite a few women’s bank in India, but the reach is limited. This new bank will have a Pan-India presence.
In the coming days, more details will emerge. However, one this is sure, that this project of Mr.Chidarmbaram is on the fast-track.
In a way, this will also be an example for the new private sector banks which might set up base in the next 3years.
- India’s first all-women bank by Oct (thehindu.com)
- Proposed All Women Bank and Future of Microfinance in India (abdulkazad.wordpress.com)
- Chidambaram to address RBI board tomorrow (rediff.com)
- India To Set Up All-Women Bank To Address Gender Inequality (huffingtonpost.com)