Bhartiya Mahila Bank – Biz plan 39 branches, 127 ATMs by the end of the first year of operations


 

The detailed operations plans of India’s newest Bank i.e Bhartiya Mahila Bank are being finalized. As per current indicators, by the end of 1st year, there will be 39 branches, plus 127 own ATM’s.

39 branches include mobile and satellite branches.

The business plan of the new bank, which is in the making, envisages a steady ramp up of its branch and ATM networks across the country. The target is to have a network of 778 branches and 2,088 ATMs by the end of the seventh year of operations.

With headquarters in New Delhi, the initial set of branches will be opened in 8 Indian cities i.e

Kolkata,  Guwahati, Chennai, Bengaluru, Jaipur, Lucknow, Mysore and Indore.

            RBI’s in-principle sanction has been received on June 27, 2013.

A provision of Rs 1,000 crore as initial capital has been made for the same.

The government had  set up a six-member committee headed by former Canara Bank chief M. B. N. Rao to prepare blueprint for India’s first women’s bank in the public sector.

 The other members of the committee are M. D. Mallya, former chief of Bank of Baroda,  Jayshree Vyas, managing director, SEWA, Arundhati Bhattacharya, chief of SBI Caps, Usha Ananthasubramaniam, executive director, Punjab National Bank and Dr K. Ramakrishna, chief executive, Indian Banks’ Association.

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