Bharatiya Mahila Bank inaugurates its 100th branch Launches BMB Saathi, Mobile app

04/05/2016

BharatiyaMahila Bank strives to be theBank of first choice for every Indian woman,with special attention to women in deeper pockets, said Smt S.M. Swathi, Executive Director of the Bank.Addressing the gathering at the inauguration of the 100th branch of the Bank in Udaipur today, Smt Swathi said that the Bank has designed and developed new products and services to suit the needs of women of all segments including SelfHelpGroups,Women Entrepreneurs, Salaried Women, HNIs and Corporates. The women centric products enable women to unleash their hidden potentials,engage in economic activities and contribute to the economic growth of the country,sheadded.Most of the products are offered with a concession in the rate of interest for women customers.
BMB SME Easy Loan encourages Women Entrepreneurs in SME sector. Considering the fact that generally, women in India are not the titleholders of properties, the Bank offers loans up to Rupees One Crore without any collateral, covering the same under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Smt Swathi said.
Inaugurating the branch, Smt. Namrata Vrishni IAS (SDM), the Chief Guest lauded the Bank for its yeomen services to economic empowerment of women.
Launching BMB Saathi, an app for SMS Banking for the Banks customers, the ED said that the Bank would be introducing more customer friendly, tech products for hassle free banking. The Bank already has BMB Smart Banking Internet banking and BMB mXpress the mobile banking. The Bank is also on Unified Payments Interface.
Emphasising the need for financial literacy in this era of digital banking, Smt Swathi said that the Bank conducts Financial Literacy Camps on the last day of every week, through all its branches.
BMB Her Auto-Loan for women auto drivers, BMB Annapurna-Catering Service Loan, BMB Parvarish-Child Day Care Center Loan and BMB Shringaar-Beauty Parlour Loan are some of the women centric loan products. The Bank also finances for construction of Goshalas, purchase of Solar Lanterns etc.
The Bank also provides women centric health insurance and life insurance products like BMB Sakhee, BMB Nirbhaya etc. Atal Pension Yojna (APY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) andotherGovernment Social Security Schemes are also offered through all BMB branches.
While the focus is on Economic Empowerment of Women, the Bank’s products, services and facilities can be availed by men as well.
The Bank offers 4.5% interest for Savings below Rupees One Lakh and 5% for the entire balance for an amount above Rupees One Lakh.
The Branch Network includes 28 rural branches.
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