Good
news: India’s first women bank gets govt nod, to start ops in November.
Paving
the way for setting up of an all-women bank, the government on
Thursday approved Rs 1,000-crore seed capital for Bhartiya Mahila Bank
Ltd.The government will seek Parliament’s nod for funds for the bank
through a supplementary budget grant in the ongoing session. The bank is likely to be operational by November.
Earlier
this week, Minister of State for Finance Namo Narain Meena had said in a
written reply to the Rajya Sabha that “it is proposed to solicit the
approval of the Cabinet to include the allocation of Rs 1,000 crore to
the Women’s Bank in the first Supplementary to be approved in the
current Monsoon Session of Parliament”.
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