Bharatiya Mahila Bank expanding with 3 new branches in North East

24 March 2014
The Bharatiya Mahila Bank (BMB), the country's first all-women bank, is expanding into the North East with three more branches in three capital cities of Tripura, Meghalaya and Arunachal Pradesh.

The state-run bank will be opening branches in Agartala, Shillong and Itanagar this week, reports quoting a senior official of the Reserve Bank of India said.

BMB already has opened a branch Guwahati, its first branch in the North East.

With the opening of the three branches, the four-month-old Bharatiya Mahila Bank will have around 23 branches across the country.

BMB on Saturday opened its 19th branch in Hyderabad, which, according to its chairman and managing director Usha Ananthasubramanian, will focus on branding activities in the coming fiscal to make inroads into the country's banking sector.

"We are going to focus on branding. We are even considering having mobile banking vans fitted with ATM machines to visit different locations at fixed timings for customer convenience as well as to familiarise people with our bank," she said on the sidelines of the inauguration of the BMB branch at Ameerpet in Hyderabad.

BMB chairman would launch BMB's second branch in Agartala on Monday.

The Shillong and Itanagar branches of the women's bank will be set up within this week.

By 31 March or before the end of the current fiscal (2013-14), BMB expects to have 23 branches across the country.

Besides the three northeastern capital towns, the cities where new branches will be set up during the 2013-14 fiscal include Hyderabad, Chandigarh, Shimla, Bhubaneswar, Jaipur, Dehradun, Patna, Naya Raipur, Panaji, Srinagar, Thiruvananthapuram and Ranchi.

BMB will have 55-60 more branches in next financial year scattered across the country, according to Ananthasubramanian.

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