India's first all-women bank sets up its first branch in Patna

The Bharatiya Mahila Bank (BMB), India's first all-women bank, on Saturday set up its first branch in Patna.

The bank would cater to financial inclusion of women of all segments from Self-Help Groups to lower middle class women to High Networth Individuals with a basket of products to ensure inclusive and sustainable growth, BMB Chairman and Managing Director Usha Ananthasubramanian said.

The access to finance and banking services being provided by the BMB would empower women and broaden their social base of development for equitable growth she said.

"As our women have minimal access to finance and financial products, the opening of the BMB's maiden branch in Patna will seek to empower them and contribute to growth processes of mainstream economy," she said.

The bank has tied-up with New India Assurance Company Ltd for providing general insurance products which would cater to needs of women at bottom of the pyramid, working women and also for their families.

The bank would conduct programmes on financial literacy, skill development and training for women to enable them to get jobs and enter business ventures.

The bank planned to increase the number of branches to 25 by the end of this year, she added.