Indian financial services forex noida sector 18 company based in Mumbai, India. That means an account in either a bank, a credit union, a co-operative, post office or a microfinance institution, according to a study by the World Bank.
70 countries indicates that more women clients is associated with lower portfolio-at-risk, lower write-offs, and lower credit-loss provisions, ceteris paribus. The bank will also place emphasis on funding for skills developments to help in economic activity. Moreover, the products will be designed in a manner to give a slight concession on loan rates to women. One of the other objectives of the bank is to promote asset ownership amongst women customers. Studies have shown that asset ownership amongst women reduces their risk of suffering from domestic violence. The Bank’s initial capital consists of Rs 1,000 crores.
As of date it has 105 Branches. US-based FIS Global, in partnership with Wipro is providing IT systems at the country’s first women-focussed bank. The Bank had 103 branches and was planning to open more than 700 branches within next 2 years. Bharatiya Mahila Bank was wholly owned by Government of India. Initially the bank had a board of directors consisting of eight women.