Bharatiya Mahila Bank ltd inaugurated its Bastar branch — the 59th branch of the bank in the country here on Monday. Of the 59 branches of the Bank, the one in Bastar region is the second branch in Chhattisgarh. Usha Ananthasu-bramanian, Chairman and Managing Director, Bharatiya Mahila Bank ltd. said that the Bank is taking all efforts to reach maximum number of women to tap their talents for contributing to the economic growth of the country.
The Bank offers women centric products like BMB Annapurna-Catering Service loan, BMB Parvarish-Child Day Care Centre loan and BMB Shringaar-Beauty Parlour loan etc besides the traditional products, she said. The Bank’s MoUs with organisations like Bharatiya Yuva Shakti Trust (BYST) and other organisations of repute encourage women and youth to start enterprises, a Bank press release issued here on Monday stated.
SME Easy loan for the Small, Medium enterprises and Micro Credits, loans to Self Help Groups (SHGs) and Joint liability Groups (JlGs) are also offered by the Bank, it stated. The Chairman and Managing Director said that the use of technology has resulted in increased efficiency and productivity. Within 16 months, the Bank has introduced over 40 products including the traditional products Home loan and Vehicle loan.
Ananthasubramanian said that each product of the Bank is unique in nature. Even the locker facility is unique in that it can be availed by a customer from any of the BMB branches, irrespective of her place of residence. Komal Kali, is the unique Recurring Deposit Product to empower the girl child and helps her take up economic activity as she turns 18. BMB Money Box helps children get into the savings habit.
She said that the Bank has entered into MoUs with New India Assurance Company limited and life Insurance Corporation of India to provide insurance cover to its accountholders under Pradhan Mantri Jan Suraksha Bima Yojana and Pradhan Mantri Jeevanjyoti Bima Yojana schemes respectively. The Bank has already introduced insurance products like BMB Nirbhaya, BMB Sakhee specially designed for women. All the branches of the Bank conduct Financial literacy Camps, every Saturday.
The Bank will soon launch m-Xpress, the mobile banking service to reach the unserved as well as the tech savvy customers, she said. The Bank has won The Asian Banker Achievement Award 2015 for Technology Implementation in the category of Best Outsourcing Project (New Bank). Earlier, the Bank had won Core Banking Initiative Award 2014 by Asian Banking and Finance, Singapore.