Bank of India (BOI) plans to open 50 all-women branches.
The Mumbai headquartered Bank of India (BOI) plans to open 50 all-women branches — one in each of its 50 zones — to facilitate the empowerment of women, according to the Chairperson and Managing Director (CMD) of the bank Mrs. Vijayalakshmi R. Iyer.
After inaugurating an all-women branch at Seethammadhara in the Visakhapatnam zone, the CMD said “The idea, of course, behind opening such branches, is to put women at ease and encourage them to transact with the bank. These branches will function like all other branches, but with more emphasis on financing schemes beneficial to women and encouraging entrepreneurship among them. Micro finance is a very important area and self-help groups of women (SHGs) are doing well in Andhra Pradesh. These branches will focus on such areas.”