Bharatiya Mahila Bank targets Rs 1,800 cr biz this fiscal

Bharatiya Mahila Bank (BMB), incorporated under the Companies Act last fiscal to extend banking services especially to women, is targeting at a business of Rs 1,800 crore this fiscal.

"This financial year will be the first full year of operations. This fiscal we are targetting at a deposit base of Rs 1,000 crore and advances of Rs 800 crore", bank's CMD Usha Ananthasubramanian said.

She said in the four-and-half months of operation in the last fiscal, the bank's business was Rs 175 crore.

Fully-owned by the government with a seed capital of Rs 1,000 crore, the bank had set up 23 branches across the country, she told reporters here last evening.

This fiscal, BMB would add 57 more branches across the country, she said.

To a query, she said that there was no immediate need to raise capital to support business needs.

"Listing will take time. The bank is not like other public sector banks which are under the Bank Nationalisation Act", she said.

The bank plans to provide loans to women at concessional rates.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Those willfully defaulting on loans should be blacklisted by Sebi

    As reported by this newspaper’s Monday edition, the Securities and Exchange Board of India (Sebi) has found merit in the Reserve Bank of India’s s

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Kickstarting technological innovation

One of the key dimensions of global competitiveness is the ...

Kuruvilla Pandikattu SJ

Developing moral, spiritual capacity

Writing in The Huffington Post, Noam Chomsky, professor emeritus, MIT ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture