All you need to know about
first all-women bank----
From First Post
The country’s first pan-India national women’s bank will be launched in Mumbai today. Here are 10 things you should know about the bank: 1. India’s first ever state-owned women’s bank will be inaugurated in Mumbai today and even though the bank will focus on lending predominantly to women, there will be no restriction on account opening ( deposits) by men.
”We welcome both men and women to open accounts with us but for loans there will be a positive bias towards women, said Usha Ananthasubramanian the chairperson of the Bharatiya Mahila Bank in an interview with CNBC- TV18. So basically, deposits will flow from everyone, but lending will be predominantly for women.
2. The Bharatiya Mahila Bank will accept deposits as well as give loans from day one. It will lend to women or to businesses which are either managed by or make products for women. There will also be emphasis on funding for skills developments to help in economic activity. Moreover, the products will be designed in a manner to give a slight concession on loan rates to women.
“We are looking to give 4.5% on savings accounts up to Rs.1 lakh and 5% for above Rs1 lakh to encourage more savings,” Ananthasubramanian told CNBC-TV18. 3. The government has chosen the iconic Air India building at Nariman Point in Mumbai to open the first branch of Bharatiya Mahila Bank. The branch will be in a 5,000 sq ft space on the ground floor. Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi will be present at the inaugural ceremony in Mumbai today . Finance Minister P Chidambaram will also be present at the ceremony today. The inaugural day is the birth anniversary of former Prime Minister Indira Gandhi.
4. Post the inaugural, seven branches would become operational across the country, including Kolkata, Chennai, Ahemdabad and Guwahati. The government proposed opening of the bank branches in Delhi and Indore also, which has been disallowed by the poll body till the end of polls. Headquartered in Delhi, the bank proposes to have 25 branches by March 31, 2014. So, after starting with one branch in each banking region, the bank will expand to 500 branches by the fourth year of operation,which is when it sees operations becoming profitable.
5. Even though the bank is making its debut in metros and urban centre, it will enter rural areas before March 2014. It will focus on centres where working women population is significant. For instance it could be placed where there are large women farm labour, Usha Ananthasubramanian told Business Standard.
6. In Budget 2013-14, the Finance Minister had announced setting up of all-women bank with an initial capital of Rs 1,000 crore. A core management team of seven members has been formed by the government of India, headed by Usha Ananthasubramanian, to set up the bank advised by SBI Capital Markets. The application was made in June and the final licence was obtained by 25 September. “Women are heads of many banks today, including two public sector banks, but there is no bank that exclusively serves women. Can we have a bank that lends mostly to women and women-run businesses, that supports women SHGs and women’s livelihood, that employs predominantly women, and that addresses gender-related aspects of empowerment and financial inclusion? I think we can,” Chidambaram had said.
7 One of its primary goals is the financial inclusion of India’s unbanked, more specifically, rural women. Women are the most underutilized economic asset of our country. Our goal is to be the foremost provider of banking services to women,” said Ananthasubramanian. ” This bank’s approach will be to inspire people with entrepreneurial skills. We will tie up with NGOs. We will also locally mobilize women to train them in vocations like toy-making or driving tractors or mobile repairs. We will try to reach deeper rural pockets,” Ananthasubramanian was quoted as saying by the Mint.
8. And While men may be precluded from taking a loan from it, they have not been left out when it comes to employment in India’s first ‘Mahila’ (women’s) public sector bank.Men account for about 36 percent of the candidates found provisionally eligible for appointment as Probationary Officers in the Bharatiya Mahila Bank.The probationary officer post is an entry-level position in the officer’s grade in Bharatiya Mahila Bank had advertised 115 vacancies for this rank last month, and selected 103 candidates, according to the results notification.
9. The finance ministry has asked public sector banks to provide 125 officers for deputation to the first woman-focused lender. Most of these officers would be taken at one level above in the women’s bank, but their experience here would not count for promotions.
10. Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.She holds a dual master’s degree – in statistics from the Madras University and in ancient Indian culture from the Mumbai University. Before joining the Bharatiya Mahila Bank, Usha Ananthasubramanian was executive director of Punjab National Bank.
http://www.firstpost.com/business/bharatiya-mahila-bank-all-you-need-to-know-about-first-all-women-bank-1237365.html?utm_source=ref_article
Now open, the first bank for women-Business Line
MUMBAI, NOV 19:
Only 26 per cent of women in India have a bank account. Since fewer women than men have bank accounts, fewer women are able to get loans. “Per capita credit in the case of women is 80 per cent lower than in the case of men. Hence, the need for a bank that predominantly serves women — from self-help groups and small business women to working women and high net worth individuals,” said Finance Minister P. Chidambaram.
He was speaking after Prime Minister Manmohan Singh inaugurated the country’s first public sector bank focussed exclusively on catering to the financial needs of women. UPA Chairperson Sonia Gandhi and Agriculture Minister Sharad Pawar were also present.
Bharatiya Mahila Bank (BMB) kicked off operations on Tuesday by offering higher interest on savings bank deposits, in the process becoming the first public sector bank to do so. While all other public sector banks offer 4 per cent, the Bharatiya Mahila Bank (BMB) will offer 4.5 per cent on Savings Bank balances up to Rs 1 lakh and 5 per cent on balances above Rs 1 lakh.
Chidambaram said that “It makes a lot of sense to have a bank for half of India (comprising women)… Though BMB will predominantly serve women customers, it will serve men too. Who knows, men may find that they are privileged customers in the women’s bank.”
“If a woman today wants to borrow and cannot offer collateral of any property in her name, that is a gender-related issue. So, BMB will devise products that take care of the gender biases that are built into the system. Gender-related issues will have to be addressed while dealing with women’s financial needs,” Chidambaram said.
BMB will address gender-related biases that women face in mainstream banking.
According to Usha Ananthasubramanian, the bank’s first Chairperson and Managing Director, BMB will offer various loans to women, such as for education, housing, setting up food and catering business, day-care centres, , and small and medium enterprises.
Chidambaram said BMB will be a universal bank, that is, one which undertakes multifarious banking activities, including financial services such as insurance and mutual funds and commercial/investment banking.
BANK’S STRUCTURE
The bank has an eight-member all-women board of directors. Besides Usha Ananthasubramanian, who was earlier executive director of Punjab National Bank, the others on the board are: Chhavi Rajawat, Sarpanch of Soda village in Rajasthan; Kalpana Saroj, CEO of Kamani Tubes; Nupur Mitra, a former CMD of Dena Bank; Pakiza Samad, Professor of Finance and Accountancy at Zakir Husain College (Delhi); Priya Kumar, Director, Ministry of Finance; Renuka Ramnath, Founder, Multiples Alternate Asset Management Private Ltd; and Tanya Dubash, ED & President (Marketing), Godrej Group.
BMB, set up with a capital base of Rs 1,000 crore, is the first bank started in the public sector space by an Act of Parliament (other public sector banks were nationalised in two tranches in 1969 and 1980).
The bank will have seven branches (Mumbai, Chennai, Kolkata, Guwahati, Bangalore, Ahmedabad and Lucknow) initially. These will soon be followed by branches in Delhi and Indore. The bank plans to have 25 branches in the next four months and thereafter add about 75 every year.
Woman bank manager attacked inside ATM kiosk in Bangalore, bleeds for 3 hours
Times of India
BANGALORE: A woman bank manager was brutally attacked inside an unguarded ATM kiosk on busy JC Road on Tuesday morning. The kiosk, located in the LIC divisional office building, is about 50 metres from Halasuru Gate police station.
Jyothi Uday, 44, manager in charge of the cheque truncation system at the Mission Road service branch of Corporation Bank, was attacked at 7.10am. A gun-wielding attacker hit her on the head with a machete after she resisted his demand that she withdraw cash and hand it over to him.
After the attacker fled, Jyothi, a Rajarajeshwari Nagar resident, lay unconscious in a pool of blood for over three hours. Two schoolchildren who saw blood flowing out of the ATM raised an alarm, drawing the attention of a traffic policeman and passersby.
Doctors said Jyothi has suffered injuries to her skull, leaving the right side of her body paralyzed.
Jyothi usually leaves her home around 6.30am and takes a bus to NR Square before walking to her Mission Road workplace, a stone's throw away. On Tuesday, she took a detour to the Corporation Bank ATM in the building that houses LIC's accounting division, opposite Unity Building.
Investigating officers gathered CCTV footage from inside the ATM kiosk and reconstructed the crime.
The bank manager entered the kiosk six seconds before 7.10am. Within seconds, the attacker came in and pulled down the shutter. "The man wore a blue striped shirt. We can see his face clearly in the visuals. He first pulled a gun out of a bag he was carrying and asked her to withdraw cash. She resisted," a police officer said.
When Jyothi refused, he pulled a machete out of the bag and hit her on the head and face. She collapsed after three or four blows. The attacker then left with some contents of her purse, including her mobile. He is also seen using a piece of paper or cloth to rub the bloodstains from the machete. "Everything was over in less than four minutes. The attacker walked out of the ATM, pulled the shutter down and left," the officer added.
Police sources said the attacker may have brandished a fake gun, and spoke in Kannada.
The ATM had no security guard. Guards of the LIC accounting division came in to work only at 10.15am.
Pappanna, the person in charge of security guards at the building, told TOI he noticed the shutter had been pulled down. The ATM had been closed for maintenance, and he did not suspect anything amiss.
"We work during office timings. I reached the building around 10.15am. After opening the main gate of the building, I waited for the officers to come and open the office," he said.
Around 10.30pm, two boys going to school saw blood flowing out of the ATM kiosk. They said they heard moans from inside. The duo ran to a traffic policeman manning the busy intersection and informed him about what they had just seen. The constable and passersby found Jyothi lying in a pool of blood. SJ Park police were alerted and Jyothi was rushed to Victoria Hospital in an autorickshaw.
Suresh AN, a senior manager at the service branch of Corporation Bank, said Jyothi would reach office around 7.45am when on morning shift. On Tuesday, around 8.15am, her colleagues tried calling her because she had not come in. "The phone rang the first few times. Later, it was switched off. Around 10.40am, we got a call from police saying she had been attacked," he said.
SJ Park police shifted a profusely bleeding Jyothi to Victoria Hospital, from where she was later moved to Nimhans for observation. Jyothi suffered injuries on her head, arm and nose. She was later moved to BGS Global Hospitals, Uttarahalli, where she underwent surgery in the evening.
Colleagues who visited her at the hospital said: "She was unable to give details of the attack. We have informed her husband, who had gone to Bidadi for a business trip."
Other angles investigated although it looked like a robbery attempt, police are investigating other angles. That the assailant left behind all the gold jewellery Jyothi wore has raised suspicion about other motives. "We are also investigating if there was any personal vendetta," Kamal Pant, additional commissioner of police, law and order, said.
Jyothi Uday, 44, manager in charge of the cheque truncation system at the Mission Road service branch of Corporation Bank, was attacked at 7.10am. A gun-wielding attacker hit her on the head with a machete after she resisted his demand that she withdraw cash and hand it over to him.
After the attacker fled, Jyothi, a Rajarajeshwari Nagar resident, lay unconscious in a pool of blood for over three hours. Two schoolchildren who saw blood flowing out of the ATM raised an alarm, drawing the attention of a traffic policeman and passersby.
Doctors said Jyothi has suffered injuries to her skull, leaving the right side of her body paralyzed.
Jyothi usually leaves her home around 6.30am and takes a bus to NR Square before walking to her Mission Road workplace, a stone's throw away. On Tuesday, she took a detour to the Corporation Bank ATM in the building that houses LIC's accounting division, opposite Unity Building.
Investigating officers gathered CCTV footage from inside the ATM kiosk and reconstructed the crime.
The bank manager entered the kiosk six seconds before 7.10am. Within seconds, the attacker came in and pulled down the shutter. "The man wore a blue striped shirt. We can see his face clearly in the visuals. He first pulled a gun out of a bag he was carrying and asked her to withdraw cash. She resisted," a police officer said.
When Jyothi refused, he pulled a machete out of the bag and hit her on the head and face. She collapsed after three or four blows. The attacker then left with some contents of her purse, including her mobile. He is also seen using a piece of paper or cloth to rub the bloodstains from the machete. "Everything was over in less than four minutes. The attacker walked out of the ATM, pulled the shutter down and left," the officer added.
Police sources said the attacker may have brandished a fake gun, and spoke in Kannada.
The ATM had no security guard. Guards of the LIC accounting division came in to work only at 10.15am.
Pappanna, the person in charge of security guards at the building, told TOI he noticed the shutter had been pulled down. The ATM had been closed for maintenance, and he did not suspect anything amiss.
"We work during office timings. I reached the building around 10.15am. After opening the main gate of the building, I waited for the officers to come and open the office," he said.
Around 10.30pm, two boys going to school saw blood flowing out of the ATM kiosk. They said they heard moans from inside. The duo ran to a traffic policeman manning the busy intersection and informed him about what they had just seen. The constable and passersby found Jyothi lying in a pool of blood. SJ Park police were alerted and Jyothi was rushed to Victoria Hospital in an autorickshaw.
Suresh AN, a senior manager at the service branch of Corporation Bank, said Jyothi would reach office around 7.45am when on morning shift. On Tuesday, around 8.15am, her colleagues tried calling her because she had not come in. "The phone rang the first few times. Later, it was switched off. Around 10.40am, we got a call from police saying she had been attacked," he said.
SJ Park police shifted a profusely bleeding Jyothi to Victoria Hospital, from where she was later moved to Nimhans for observation. Jyothi suffered injuries on her head, arm and nose. She was later moved to BGS Global Hospitals, Uttarahalli, where she underwent surgery in the evening.
Colleagues who visited her at the hospital said: "She was unable to give details of the attack. We have informed her husband, who had gone to Bidadi for a business trip."
Other angles investigated although it looked like a robbery attempt, police are investigating other angles. That the assailant left behind all the gold jewellery Jyothi wore has raised suspicion about other motives. "We are also investigating if there was any personal vendetta," Kamal Pant, additional commissioner of police, law and order, said.
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