Finance
Minister P Chidambaram in his budget
speech announced the setting up of India's first public sector women's bank
with an initial capital of Rs 1,000 crore
Licenses
approval for “ Women’s Bank” is expected to be by October’13.
As part
of his Union Budget, Finance Minister P Chidambaram said during his budget
speech that India will set up a special Public Sector Unit bank solely for
women, and to support businesses run by women.
The
announcement of “Women’s Bank” has again been made by government to empower
women and has led to mixed and divided opinions in the corporate world. It is
expected that this will lead to inclusion at different levels, empower women
from lower to middle income groups and give women a higher status in society.
"It will encourage women to apply for loans, and start entrepreneurial
activities. The move will particularly encourage women at the grass-roots
levels to recognise their aspirations and will help women gain status in
society,"
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