Women's bank to get 125 officers from PSBs

Most officers to be taken one level above here; their experience would not count for promotions

The finance ministry has asked public sector banks to provide 125 officers for deputation to the first woman-focused lender, Bharatiya Mahila Bank (BMB). Most of these officers would be taken at one level above in the women’s bank, but their experience here would not count for promotions.  

 

The corporate office including treasury department of the bank would be based out of Delhi and many of these officers on deputation may join there. Except for general managers (GMs), who would be taken at the same level, all others would be taken at next higher level with salary and perks applicable to the higher scale. However, relaxation may be considered on a case to case basis.

 

“GMs may also be taken on deputation from the deputy general managers (DGMs). However, it may be made clear that the experience of GMs, executive directors (EDs) and Chairman & Managing Director (CMD) on deputation will not be taken into account for respective promotion and higher level promotions,” the finance ministry said in a circular to public sector banks this week.

 

During a meeting with Finance Minister P Chidambaram on July 3, heads of public sector banks had agreed to provide officers on deputation basis to the women’s bank to be headed by Usha Ananthasubramanian, Executive Director of Delhi-based Punjab National Bank.

 

SBI Capital Market Ltd, which has been appointed as consultant for setting up the bank, has laid down detailed terms of deputation. The eligible and willing officers have been given time till August 12 to respond with their CV. While men can also apply preference would be given to women. The period of deputation would be three years and it might be extended, if required. It will also get fresh recruits.

 

The bank, first announced by Chidambaram in Budget 2013-14 with an initial capital of Rs 1,000 crore, will start its operations from November with branches in eight cities--Kolkata, Guwahati, Chennai, Bangalore, Jaipur, Lucknow, Mysore and Indore. Bids have already been invited for renting out the space with a carpet area of approximately 2,200-2,750 square feet for each branch. 
 

It has received in-principle approval from the Reserve Bank of India on June 27. A tender has also been floated for selection of information technology vendor for implementing Core Banking Solution in the bank. The last date for submission of proposal is August 6.

 

A five-member panel, headed by former Canara Bank CMD MBN Rao had prepared the blueprint for the bank. Its key objective is focus on banking needs of women and promoting economic empowerment.

Women'sbank
Volume of transactions, users and account - Expected*
(All estimates are provided as at the end of the year)

Particulars	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7
Number of Branches**	39	134	256	387	517	648	778
Number of ATMs	127	432	715	1,067	1,392	1,740	2,088
Number of users in CBS	200	900	1,626	2,379	3,139	3,931	4,724
Number of customer accounts	33,299	524,914	1,214,427	2,076,583	3,129,012	4,255,267	5,532,912
Number of financial transactions per day	3,330	78,737	242,885	519,146	938,704	1,702,107	2,766,456

**Includes mobile and satellite branches too
Source: Ministry of Finance