Bharatiya Mahila Bank – India’s first all-women bank inaugurated.
With the inauguration of the bank at the Air India building in Nariman Point, seven branches became operational across the country.
The other six branches were inaugurated through video-conferencing by the prime minister and UPA (United Progressive Alliance) chairperson Sonia Gandhi who was also present at the event.
The bank will have a network of 25 branches by March 2014, finance minister P Chidambaram said.
It will primarily serve women but deposits will also be taken from men.
Usha Ananthasubramanian, who was executive director of Punjab National bank, is the chairperson of the bank.