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BharatiyaMahila Bank inaugurates its Sivapuram Branch
BharatiyaMahila Bank is taking optimum efforts to ensure banking and financial products, services and facilities are available to the women of every household in India including those in the rural and remote pockets of the country, said Smt. S.M. Swathi, Executive Director, BharatiyaMahila Bank. Inaugurating the Sivapuram Branch today (28.04.2016), the Executive Director said that the Bank, with a view to enable women to become entrepreneurs, has designed and developed many women centric loan products,with special factors of concession to women on interest rates. BMB SME Easy loan encourages women entrepreneurs in SME sector. The Bank offers loans uptoRupees One Crore without any collateral, covering the same under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Emphasizing the need for Financial Literacy for all, Smt. Swathi said that the Bank conducts Financial Literacy Camps on the last day of every week, through all its branches.
The Bank lends to individual women, Self Help Groups (SHGs), Joint Liability Groups (JLGs) and Micro Finance Institutions (MFIs). The Bank also finances for construction of Goshalas, purchase of Solar Lanterns etc. BMB Her Auto - Loan for women auto drivers, BMB Annapurna – Catering Service Loan, BMB Parvarish- Child Day Care Centre Loan and BMB Shringaar- Beauty Parlour Loan are some of the women centric loan products.
The Bank has mobile banking, internet banking and also is on UPI (Unified Payments Interface). The Bank also provides women centric insurance products. The Bank offers Government Social Security Schemes.
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 amount above Rupees One Lakh.
In Andhra Pradesh, the Bank already has branches at Kakinada, Komaragiri, Vijayawada and Visakhapatnam. In Telangana, the Bank’s branches are at Hyderabad, Mahabubnagar, Bommaraspet and Rajapet.
BharatiyaMahila Bank Ltd.