Skip to main content

Election Commission allows launch of first all-woman Bharatiya Mahila Bank

Image
By

The first all-woman Bharatiya Mahila Bank in the country open its branches in Delhi, Maharashtra and Madhya Pradesh.
The Election Commission has allowed the launch of the first all-woman Bharatiya Mahila Bank in the country tomorrow but asked government not to open its branches in Delhi and Madhya Pradesh and neither do publicity of the bank in these poll-bound states.
In a letter to the Finance Ministry, the Commission has said government should ensure that no publicity of the bank opening be done in poll-bound states.
Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi are expected to be present at the inaugural ceremony of the country's first all-woman bank in Mumbai tomorrow, coinciding with the birth anniversary of former Prime Minister Indira Gandhi. Finance Minister P Chidambaram will also attend.
Government earlier wanted to launch the bank in Delhi but changed its plan in view of the Model Code of Conduct in force in the capital.
With the inauguration of the bank, seven branches would become operational across the country, including in Kolkata, Chennai, Ahmedabad and Guwahati. The government proposed opening of the bank branches in Delhi and Indore also, which has been disallowed by the poll body till the end of polls.
Headquartered in Delhi, the bank proposes to have 25 branches by March 31, 2014.
The Finance Minister had announced the setting up of the all-woman bank in his Budget speech this year. The bank will be set up with an initial capital of Rs 1,000 crore.
The Reserve Bank of India gave its in-principal approval for the Bharatiya Mahila Bank in June.
Earlier this week, the government appointed Usha Ananthasubramanian as the bank's Chairperson and Managing Director.
"Women are heads of many banks today, including two public sector banks, but there is no bank that exclusively serves women. Can we have a bank that lends mostly to women and women-run businesses, that supports women SHGs and women's livelihood, that employs predominantly women, and that addresses gender-related aspects of empowerment and financial inclusion? I think we can," Chidambaram had said.

Source : PTI

Comments

Post a Comment

Popular posts from this blog

Model representation to be submitted to Head of the office for grant of One Increment

By
Model representation to be submitted to Head of the office for grant of One Increment Government servants are aware that the Ministry of Finance and Railways, both have already issued orders for grant of one increment in the pre-revised pay scale to nullify the anomaly in respect of central government employees who were in receipt of pre-revised increment between February 2006 to June 2006. A model representation requesting the concerned head of Office for grant of one increment and drawl of arrears is published below for ready use. MODEL REPRESENTATION FOR GRANT OF ONE INCREMENT From : To, Sir / Madam, ·   Sub: Officers who were due to get heir annual increment between February to June during 2006 – Grant of additional increment as one time measure- Request for sanction and drawal of arrears – Reg. Kind reference is invited to the Ministry of Finance, Department of Expenditure O.M.No.10/02/2011- E.III/A dated 19th March, 2012 wherein all the centra...
Post a Comment
Read more>>

Cabinet approves Implementation of the recommendations of 7th Central Pay Commission

By
  The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of 7 th  Central Pay Commission (CPC) on pay and pensionary benefits.   It will come into effect from 01.01.2016. In the past, the employees had to wait for 19 months for the implementation of the Commission’s recommendations at the time of 5 th  CPC, and for 32 months at the time of implementation of 6 th  CPC.  However, this time, 7 th  CPC recommendations are being implemented within 6 months from the due date. The Cabinet has also decided that arrears of pay and pensionary benefits will be paid during the current financial year (2016-17) itself, unlike in the past when parts of arrears were paid in the next financial year.  The recommendations will benefit over 1 crore employees. This includes over 47 lakh central government employees and 53 lakh pensioners, of which 14 lakh employees and 18 lakh pe...
Post a Comment
Read more>>
By
ENHANCEMENT OF FINANCIAL POWERS OF HSG, HSG-II AND LSG POST MASTERS ( THESE ORDERS ARE IN FORCE. NO REVISION TAKES PLACE SINCE 21 YEARS) A reference is invited to Circular No.62-8/64-CI dated 20.10.1965 delegating financial powers to HSG and LSG Postmasters to incur expenditure of a contingent nature on the following items: a) Replacing, repairing, cleaning, oiling, shifting of electric lights and fittings, fans etc. of the office in a rented building when the charge is a Government liability. b) Repairs of Department bicycles. c) Purchase of earthen pots, glass tumblers, dusters, brooms etc. d) Purchase and repairs to furniture. e) Emergent arrangements for conveyance of mails. 2. The question of enhancement of the powers were being examined in the Directorate in view of the rise in the prices and it has been decided to enhance the powers given to HSG & LSG Postmasters from Rs.30 & Rs.20/- respectively on each occasion to Rs.60/- & Rs.40/- respectively on each o...
1 comment
Read more>>