Wednesday, November 20, 2013

New bank salutes girl power

Union Finance Minister P. Chidambaram with board members of Bharatiya Mahila Bank (BMB) Chhavi Rajawat, Kalpana Saroj, and bank CMD Usha Ananthasubramanian (second from right) during launch of the first all-woman bank in Mumbai on Tuesday. Photo: PTI
.........The bank — which will be governed by a board of directors comprising eight women — is arguably the first of its kind in the world. Many banks in the Gulf and in the West have experimented with women-only branches. Bank Melli in Iran opened a women-only branch with great fanfare at Mashhad in June 2010. Dubai Islamic Bank opened a similar branch in 2001. And in 1964, the National Commercial Bank opened a women’s branch in Scotland where “you would need more than a ravishing smile to win an overdraft”. But it would be hard to find an entire bank with multiple branches that’s run by women alone............

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