Bank of India plans 50 all-women branches: The Bank of India is planning to open 50 all-women branches, one in each of its 50 zones, to facilitate empowerment of women, according to Vijayalakshmi R. Iyer, the Chairperson and Managing Director.She was speaking here on Friday after inaugurating an all-women branch at Seethammadhara in the Visakhapatnam zone. "The idea, of course, behind opening such branches is to put women at ease and encourage them to transact with the bank. These branches will function like all other branches, but with more emphasis on financing schemes beneficial to women and encouraging entrepreneurship among them. Micro finance is a very important area and self-help groups of women (SHGs) are doing well in Andhra Pradesh. These branches will focus on such areas," she said.She said the Seethammadhara branch, which she had inaugurated formally on Friday, had already transacted business of Rs 25 crores. Referring to the performance of the bank during the current financial year, she said the first quarter was quite satisfactory, with business of Rs 49,000 crores. "There may be a slight lull in the second quarter, but we will make all efforts to maintain the momentum and we are sure of achieving our targets by the end of the financial year," she added.The CMD said the bank plans to open 250 branches more in the country and 49 branches had been established in the first quarter. The bank would also add a thousand ATMs during the current fiscal in addition to the existing 2,500.
Posted on: Fri, 16 Aug 2013 13:45:59 +0000
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