BMB targeting business of Rs 1800 crore this fiscal

The 10-month old public sector Bharatiya Mahila Bank (BMB) Ltd is targetting a business of Rs 1,800 crore this fiscal and will be opening 50 more branches, including 20 in rural areas, by March next year, a top official today said.
"The bank's target is to touch Rs 1,000 crore deposits and Rs 800 crore advances for the current year," BMB Chairman and Managing Director Usha Ananthasubramanian told reporters here.
The CMD, who inaugurated the bank's 30th branch here, the second in Kerala, said no state-wise targets had been set.
"The bank has plans to open over 50 brick and mortar branches in the current fiscal, of which 20 would be in rural areas," she said.

To man its over 50 branches, the bank will be recruiting employees, she said.
The bank had drawn in personnel on deputation from various public sector banks. "We are in the process of recrutiment. We have to slowly induct people," she said, adding, there were presently 275 employees, 65 per cent of whom are women.
Pointing out that this was the first bank to be created from 'scratch', she said the bank was taking 'baby steps'.
Aiming at economic empowerment of women, she said the bank was according top priority for designing and introducing women centric products, including special products for those engaged in manaufacturing sector and also which bear a 'made by women' stamp.