Bharatiya Mahila Bank (BMB) opened its first branch in Andhra Pradesh here on Saturday.
Speaking at the inauguration, its Chairperson and Managing Director Usha Ananthasubramanian said the bank would close the current financial year with 25 branches. It also plans to add over 55 new branches next year.
Apart from regular products, BMB is also offering women exclusive loans to set up daycare centres, beauty parlours and catering units.
It has tied up with New India Assurance Company Ltd to extend general insurance products to the poor and underprivileged and working women.
“As our women have minimal access to financial products, the bank would work to empower them to contribute to the growth of the mainstream economy,” she said.