Revealed: The First CEO of All-Women Bank

By SiliconIndia   |   Monday, July 15, 2013
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Bangalore: The suspense of India’s first all-women bank is at last revealed.  Finance minister P. Chidambaram has identified executive director of Punjab National Bank Usha Ananthasubramanian to be the chief executive officer for Bhartiya Mahila Bank. The bank will apparently start its operations with six branches from November 2013, reports Manojit Saha of Business Standard.

Currently Ananthasubramanian is heading the core management team that is set up. The team will be looking after all the operations so that the bank can be started according to the plan.

Once the Reserve Bank of India (RBI) confirms the license to start all- woman bank, the government will officially announce the name of the CEO.

Ananthasubramanian is a dual master degree holder in statistics and in ancient Indian culture which she completed from Mumbai University. In 1982, she started her career from Bank of Baroda as a specialist officer in the planning stream. Since Ananthasubramanian has rich experience in the field of banking where she witnessed the formation of Bank of Baroda’s life insurance joint venture, her experiences will definitely help her handle situations better.

When Finance Minister announced about the all-women bank in budget speech this year, he mentioned that the bank will get initial capital of Rs.1, 000 crore from the government.

After starting bank operations in six regions, the branches are expected to increase to 500 within four years of its operation. However, the bank will have to follow the rules that are drawn by RBI though there are no concessional rates for women.

The biggest challenge for the bank will be to manage pool of human resource as the banks will select employees from public-sector banks. But sources close to Ananthasubramanian said that her experience for three decades will be surely helping her in succeeding all the tasks.

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