Doing a business of Rs 900 crore till November, Bharatiya Mahila Bank (BMB) is expecting to end the fiscal with a turnover of about Rs 1,800 crore, a top Bank official said today.
The bank, which was started in November 2013, ended with a turnover of about Rs 190 crore in the first four and half months of 2013-14 fiscal and is expected to touch about Rs 1,800 crore in 2014-15, BMB Chairman and Managing Director, Usha Ananthasubramanian told reporters here.
On expansion, Usha said the bank would touch 80 branches, including Coimbatore (which was opened today) by the end of this fiscal from 36 branches now.
It is expected to have 150 branches by the next financial year and cross 450 by 2020, she added.
BMB would soon open branches in Pune, Bhopal, Haridwar, Jamshedpur and Nagpur, she said, adding branches would also be opened in Madurai and Tiruchirapalli in Tamil Nadu, shortly.
As part of encouraging women to contribute to the economic growth of India, particularly through SME sector, the Bank is helping them unleash their hidden talents by developing and introducing many women centric products, she said.
Asked about the need for additional seed capital, she said at present there was no necessity but would think of it later.
To a question on recovery from women entrepreneurs, Usha said "no deliquency and so far recovery is good".
Ananthasubramanian said BMB proposed to start a Recurring Deposit scheme 'Komal Kali' by which a minimuim Rs 50 can be deposited in the name of a girl child, till she attains the age of 15 or 18 years.
She said it was also proposed to enter into MOU with Hindustan Lever for opening its Lakme salons on the lines of Naturals and Green Trends.
The bank has also drawn out plans to have off-site ATMs and mobile banking. It has at present 1.1 lakh account holders of whom 82 per cent are women, she added.
