Millennium Post

India will get all-women bank by October: PC

The country is all set to get an all-women bank by this year with the government announcing an initial capital of Rs 1,000 crore. It is likely to be set up by October this year. ‘I shall provide Rs 1,000 crore as initial capital. I hope to obtain the necessary approval and banking licence by October, 2013,’ the finance minister said. The bank will lend mostly to women and women run businesses, support women SHGs and women’s livelihood, he said. It will employ predominantly women which addresses gender related issues, he added.
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