Bharatiya Mahila Bank (BMB) is one such bank which is run by a woman and lend money exclusively to women, of course when the bank was established there were list of issues associated with it being gender biased. But this did not stop the bank from growing further. The bank allowed the deposits however to be flowed from everyone. It was one of those banks that represented India as the third county to have a bank designed for women’s benefit after Tanzania and Pakistan. The bank also stresses more on creating the funds for the skill development which can help further in the economic activity.
Listing and Revenue
No information available
Products and Services
Bharatiya Mahila Bank has the products designed in a way that would give some concession to the women at the loan interest. The bank also created the products and services that focused on inspiring the entrepreneurial skills. Other than this, it also offered services such as core banking, credit card, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management to name some for all the people irrespective of the gender.
Bharatiya Mahila Bank (BMB) is one such bank that solely was started with a betterment for the women and their growth. It was an Indian financial service banking solution located in Mumbai. The bank was inaugurated by former Indian Prime Minister Manmohan Singh on 19th of November in the year 2013 on the occasion of 96th birth anniversary of former Indian Prime Minister Indira Gandhi. However, in the year 2017, as a part of Modi’s government baking solutions, the bank then merged with the State Bank of India to offer better baking outreach to women.
After the inauguration, bank opened seven branches that includes cities like Chennai, Guwahati, Ahmedabad and Kolkata .
In the year 2014, after the proposal by the government to open the branches in Delhi and Indore, the bank nestled its headquarters in Delhi.
During the same year, it also entered some of the rural areas for the women empowerment post the success rate in the cities were achieved. It aimed to expand more in the rural areas but before that it merged with the State Bank of India in the year 2017.
There is no information available with regards to acquisition of Bharatiya Mahila Bank. BMB was merged with the State Bank of India in 2017.
Awards and Recognition
Along with the another FIS technology, Bharatiya Mahila Bank won the Best Outsourcing Project (New Bank) in the year 2015. The award was received at the ninth Asian Banker Technology Implementation Awards Programme.
There is no separate subsidiary of the Bharatiya Mahila Bank as such. It however, merged with one of the country’s huge lender State Bank from 1st of April to make sure it is able to reach out to more women. The merger came into effect in the year 2017 and government expressed the notification. All the branches of the bank were then started functioning from April 1. That is why, instead of separate subsidiary, Bharatiya Mahila Bank itself become one of the subsidiary of the State bank of India.