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What is Bharatiya Mahila Bank mean?
Bharatiya Mahila Bank (BMB) was a fully owned subsidiary of State Bank of India based in Mumbai, India. Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 96th birth anniversary of former Indian Prime Minister Indira Gandhi. As part of the Modi government's banking reforms and to ensure greater banking outreach to women, the bank merged with State Bank of India on 1 April 2017.
While being run by women, and lending exclusively to women, the bank allowed deposits to flow from everyone. India was the third country, after Pakistan and Tanzania, to have a bank exclusively to benefit women.
referencePosted on 17 Dec 2024, this text provides information on Miscellaneous in Public Sector Bank in India related to Public Sector Bank in India. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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