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Mahila Bank to focus on small cities

BMBharatiya Mahila Bank will start opening its branches in smaller cities and rural areas from next fiscal as it aims to have branch strength of 80 by March 2015. The bank has to gain its visibility and it needs to establish its brand and it wants one branch in each state as it wants to have pan India presence, Usha Ananthasubramanian, CMD of the bank said. She said from April, the bank will be moving into tier II, III and rural areas and it wants to have minimum of 80 branches by March 2015. Noting that the bank would be financing women with ‘very good ideas’, she said that the bank had designed loan products keeping in mind their requirements. The bank has introduced loan products like advances for catering services, day care centre loan, easy SME loans. The bank has tied up with professional institutes like Institute of Chartered Accountants of India whereby it will advance education and setting up of practice loan to women with one per cent concession in interest.

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