ALSO READSBI forms team to look into fintech opportunities Banking operations affected pan-India due to strike (Roundup) Banking operations affected pan-India due to strike SBI enlightens Egyptian bankers on financing to MSME units in India Indian fertilizer industry is third largest in the world, says SBI report
"The decision has been taken in view of the advantage of the large network of SBI," the Finance Ministry said in a statement.
"The objectives of affordable credit to women as well as propagation of women-centric products need to be quickly achieved through a wider network and lower cost of funds," it said.
"SBI group already has 126 exclusive all-women branches across the country while BMB has only seven.
"The proportion of administrative and managerial cost in BMB is much higher to reach the same coverage. For the same cost, a much higher volume of loans to women could be given through SBI," it said.
In the three years since BMB was set up in 2013, it has extended loans of Rs 192 crore to women borrowers.
The SBI group has provided loans of about Rs 46,000 crore to women.
SBI has more than 20,000 branches. Out its workforce of around 2 lakh, 22 per cent are women.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)