A new bank for women, by women

NEW DELHI/KOLKATA/COIMATORE/MANGALORE, FEB. 28:  

In a first in the country’s history, Finance Minister P. Chidambaram said India would have its first public sector Women’s Bank by this year-end.

Committing an initial capital of Rs 1,000 crore for this bank, Chidambaram even invited all Members of Parliament to its inauguration, once it gets necessary approvals and licence from the Reserve Bank, by October 2013.

“Women are at the head of many banks today, including two public sector banks, but there is no bank that exclusively serves women,” he said.

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