 "Govt plans to close down Mahila Bank")
Bharatiya Mahila Bank, (BMB) established by the previous government, is to be closed. The finance ministry is to approach the Cabinet in a month with such a proposal.
Ministry sources said this amid speculation that BMB would be merged with State Bank of India. Earlier, SBI chief Arundhati Bhattacharya had said: “I do not know the basis of this news and I have not been approached on this…I think this is something they are discussing at the Cabinet.”
She had said the country's largest lender would not have a problem in amalgamating BMB, a small bank. Launched in 2013 with paid-up capital of Rs 150-200 crore, it has 60 branches across the country. The mandate was to cater for women.
Ministry sources said this amid speculation that BMB would be merged with State Bank of India. Earlier, SBI chief Arundhati Bhattacharya had said: “I do not know the basis of this news and I have not been approached on this…I think this is something they are discussing at the Cabinet.”
She had said the country's largest lender would not have a problem in amalgamating BMB, a small bank. Launched in 2013 with paid-up capital of Rs 150-200 crore, it has 60 branches across the country. The mandate was to cater for women.