In an ambitious initiative aimed at empowering women, the government has proposed to set up an exclusive bank for women having branches across the country which may see merging of the Bharatiya Mahila Bank launched last year by the UPA government.
The 10-month old public sector Bharatiya Mahila Bank (BMB) Ltd is targetting a business of Rs 1,800 crore this fiscal and will be opening 50 more branches, including 20 in rural areas, by March next year, a top official on Tuesday said.
She was here to inaugurate the 14th branch of the bank. Prime Minister Manmohan Singh had inaugurated the first branch of the bank in the presence of UPA Chairperson Sonia Gandhi on November 19 in Mumbai.
Bharatiya Mahila Bank, country's first women's lender, Thursday said it will start opening its branches in smaller cities and rural areas from next fiscal as it aims to have branch strength of 80 by March 2015.