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Bharatiya Mahila Bank (BMB) will launch another 55-60 branches on a pan-India basis this fiscal, Chairman & Managing Director Usha Anathasubramanian has said.
In a span of seven months since its inception in August last year, BMB has built a branch network of 23 branches.
“Most of the additional 55-60 branches that we plan this fiscal will come up in Tier 2-6 cities. We will also meet the 20 per cent rural roll-out requirement”, Usha Ananthasubramanian told Business Line here on Tuesday.
The existing 23-branch network is spread across the country barring few states like Jammu & Kashmir, Manipur and Nagaland.
MoU with Naturals
Bharatiya Mahila Bank on Tuesday entered into a memorandum of understanding with Naturals, a hair and beauty chain, that is looking to expand presence in North India.
Under this MoU, BMB will extend financial assistance to women entrepreneurs who are looking to set up a Naturals spa, salon or lounge.
“Our objective is to empower women with resources. Majority of the women, who own salons in various parts of the country, are from middle class and it is not very easy to get a bank loan to set up various facilities in every outlet.
So, this MoU has been signed with the hope that women are given the exposure to explore their entrepreneurial skills,” C K Kumaravel, CEO & Co-founder, Naturals, said.
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