The country is yearning for a new change the startup of the Mahila Bank which is the country’s first women bank with a mission stating ‘Empowering Women Empowering India’ does seem to steer this new change in the right direction
Inaugurated on 19 November 2013, the Bank, at present has 23 branches across the country and aims to add 55 – 60 branches in the current financial year.
>>What’s new about MNB??
What’s important for a new change is that special attention given to economically neglected, deprived, discriminated, underbanked, , rural and urban women to ensure inclusive and sustainable growth. The Bank has considered women of all segments including Self Help Groups, women entrepreneurs, salaried women, HNIs and Corporates.
>>The interest rate scenario
rate of interest for Rupees One lakh and above is 5% and for amount less than Rs. One lakh, the interest rate is 4.5% for a saving bank
The key emphasis of the bank is to ensure that the core strength of women are unleashed that is a hindrance on gender should not be noticed hence with minimal rate of interest There will be financial inclusion which would result in a greater economic activity higher the economic activity higher the growth rate not only that just as important financial inclusion is financial literacy is also given prime emphasis.
>>What’s New ??
In less than 7 months the bank has managed to cross more than 1 crore deposits with about 25 lakhs disbursed
Hence there does seem a promising future for women in the country ‘For Empowering women is empowering India’
– Khyati Kotiyan