Not an all-women bank after all

The proposed all women’s bank, slated to be set up by this year, may not land up being a bank manned primarily by women staff or one having only female customers. The bank is likely to recruit eligible candidates in a gender-neutral manner and cater for all customers –men and women, sources said. Mahua Venkatesh reports.

The proposed all women’s bank, slated to be set up by this year, may not land up being a bank manned primarily by women staff or one having only female customers. The bank is likely to recruit eligible candidates in a gender-neutral manner and cater for all customers –men and women, sources said.

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"It will not be a bank where you see only women employees or women customers but the bank would definitely have special schemes and concessions for female customers as the focus would be on women," a senior government official, who did not wish to be identified, told HT.

The proposed bank would focus on women and women-run businesses, besides providing support to women self-help groups to enhance the financial inclusion programme of the government, the official said.

The government is ready with the Cabinet note on setting up the bank with an initial capital of R1,000 crore.

It has already sent the proposal to the RBI for its approval.

The bank wholly owned by the government is slated to begin operations by the year end.