India's first women's bank, the Bharatiya Mahila Bank has been inaugurated today in Mumbai at the iconic Air India building in Nariman Point.
Here's all you wanted to know about this initiative -
#1 Pan India operations
BNB will start pan India operations from day one accepting deposits as well as giving out loans. With the inauguration of the bank in Mumbai, seven branches would become operational across the country including in Kolkata, Chennai, Ahemdabad and Guwahati. Though the bank makes its debut in a metro and urban centers, it will enter into rural areas before March 2014. It will follow RBI's norm to open 25% of branches in underserved and unbanked areas and scout for centers where working women population is significant.