Indian Women's Bank- An Overview

The inception of women world banking in 1980 to address the hitherto unmet needs of economically active but poor women’s access to financial services thereby enabling them to engage in productive economic activities was the first step in the direction of ensuring women fair access to finance. The country’s first all-women bank, Bhartiya Mahila Bank (Indian Women’s Bank) India’s first women bank under Reserve bank of India act was inaugurated in Mumbai in 2013 by Prime Minister Manmohan Singh to cater to the financial requirements of the middle class and lower middle class section of the society. The Government has taken initiative and set out an action plan in order to realize the ambition for involvement of women in business and entrepreneurialism by the inception of Indian Women’s Bank. One of the key objectives of the Bank is focus on the banking needs of women and promotes economic empowerment through women's growth and developments. One of the other objectives of the bank is to promote asset ownership amongst women customers.

Keywords: Financial Services, Bhartiya Mahila Bank, Lower Middle Class, Economic Empowerment.

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