Will Women Bank Empower Indian Women?

Bangalore: This year’s budget might have tranquilized some section while it might have started giving nightmares to some other section. Along with the railway, the banking sector also experienced some changes in this year’s budget.

One of the most talked speeches in Budget 2013 was: "Women are at the head of many banks today, including two public sector banks, but there is no bank that exclusively serves women. I propose to set up India's first Women's Bank as a public sector bank and I shall provide Rs 1,000 crore as initial capital. I hope to obtain the necessary approvals and the banking license by October, 2013,"

The Finance Minister of India, P Chidambaram delivered this speech in the budget session. UDA chief, Sonia Gandhi and the opposition party leader, Shushma Swaraj joined hands and supported this decision.

The proposed bank will be a bank for the women and by the women. This bank will lend mostly to women in terms of loans for businesses run solely by women, women self-help groups.

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