Usha Ananthasubramanian becomes the first Chief of Bharatiya Mahila Bank – India's first all women Bank

The Union Government appointed Usha Ananthasubramanian as the Chairperson and Managing Director (CMD) of public sector Bharatiya Mahila Bank (BMB), the first women bank of India.
Prior to her appointment in BMB, she was an Executive Director with Punjab National Bank (PNB).

 About Bharatiya Mahila Bank (BMB)

• Objective: Focus on the banking needs of the women and promote economic empowerment. It will also address the gender related issues and will be helpful in financial inclusion.
• India’s first all-women public sector bank; expected to be formally launched on November 19, 2013.
• First 6 branches at Mumbai, Delhi, Kolkata, Chennai, Indore and Guwahati.
• Government approved Rs 1,000-crore seed capital for the bank in Budget 2013-14
• Headquarter of Bharatiya Mahila Bank: Delhi.
• CMD: Usha Ananthasubramanian

Month: Current Affairs - November, 2013