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HindustanTimes Thu,28 Aug 2014

Royal city gets its 2nd all women bank branch

HT Correspondent, Hindustan Times  Patiala, January 15, 2014
First Published: 23:20 IST(15/1/2014) | Last Updated: 23:23 IST(15/1/2014)

The royal city got its second all women bank branch here on Wednesday as State Bank of Patiala inaugurated its second branch at YPS stadium road.

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While inaugurating the branch, managing director of the bank SA Ramesh Rangan said that all women bank branches would set a benchmark in the banking field as they would enable and encourage more women customers to do banking in a woman-friendly environment.

Rangan added that this would also help remove prejudice against women in lending financial assistance by banks.

He said "We have plans of opening around 15-20 more such branches at various places in the country, including Delhi and Mumbai."

Regading possibility of setting up all women branches in rural areas, s he said, "Right now it's difficult to employ all women staff in rural areas as the conditions are not favourable."

On the occasion, the bank launched two new products including 'Swapna Luxmi Recurring Deposit Scheme' for women, in which the bank would offer high interest of 9.25% per annum.  For children, the bank launched 'Naunihal Term Deposit Scheme'.

The branch manager of the new all women branch Poonam Sethi said, "Given the modicum of sincerity and commitment women have, it makes it easier to manage an all women branch."

Sethi added that the bank was targeting more women entrepreneurs, by providing them seed capitals to setup their business.

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