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Capital to BMB if needed, says Chidambaram

Finance minister P Chidambaram said Bharatiya Mahila Bank will receive full capitalisation support. If the bank wants more capital, this will be provided by this government and the government that come to power after the counting of votes. Chidambaram was confident that the first all-women bank will play a key role in promoting financial inclusion and improving the status of women in the country. The government has already provided Rs 1,000 crore seed money to the bank, which started operations in November last year. The bank with 23 branches has opened about 17,000 accounts having deposits of about Rs 87 crore. The finance minister told the bank to harness technology and innovation for expanding its reach. The bank plans to open 57 new branches in the current fiscal, he said.

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