VISAKHAPATNAM: In a bid to ensure financial empowerment of women, Bharatiya Mahila Bank (BMB) will open its branch in Visakhapatnam on Thursday. The first of its kind in the Banking Industry in India, the Bharatiya Mahila Bank was established by the government exclusively for women with predominantly women staff in November 2013 and has 92 branches across the country. The bank aims to add 20-30 branches in the current fiscal.
The Visakhapatnam branch will be inaugurated by BMB executive director SM Swathi in Seethammadhara on Thursday. The bank already has branches in Vijayawada, Kakinada and Komaragiri in Andhra Pradesh.
Speaking to mediapersons here Wednesday, BMB branch manager R Pramod Krishna said that the bank had designed and developed new products and services to suit the needs of women of all segments including Self Help Groups, women entrepreneurs, HNIs and Corporates.
The bank is offering housing loans and car loans to individuals at competitive rates besides MUDRA Loans catering to the needs of petty businessmen and women as well as SME Loans to cater to the industrial needs.