BMB(Bharatiya Mahila Bank) was incorporated under the Companies Act 1956 on 5 August 2013. The Bank received the certificate of commencement of Business on 22 August 2013 and the Banking License from RBI on 25 September 2013. The Bank's Corporate Office is at the IFCI Towers, 9th floor, Nehru Place, New Delhi .
While the Bank focuses on the entire pyramid of Indian women, special attention is given to economically neglected, deprived, discriminated, underbanked, unbanked, rural and urban women to ensure inclusive and sustainable growth. The Bank with a team of professionals with rich experience and expertise has designed and developed new products and services to suit the needs of women of all segments including Self Help Groups, women entrepreneurs, salaried women, HNIs and Corporates.
The Savings Bank rate of interest for Rupees One lakh and above is 5% and for amount less than Rs. One lakh, the interest rate is 4.5%. The Bank has designed many women centric products keeping in mind the core strengths of women so as to enable them to unleash their hidden potentials, engage in economic activities and contribute to the economic growth of the country. Most of the products are offered with a concession in the rate of interest for women customers.
The Bank, on stepping into the second year of operations, introduced BMB Smartbanking – the internet banking facility with many value added features. The customers can open Recurring Deposits, Fixed Deposits etc through internet banking. When in need they can also access such Fixed Deposits to avail premature facility. The Bank’s Mobile banking App can be freely downloaded from Google Play Store for Android mobiles and Apple Store for iphone.
The Bank also conducts programmes on financial literacy, skill development, training for women of all segments of the society so that women in turn generate more income, more jobs and growth opportunities and contribute significantly for the economic growth of the nation.
Mrs. SM Swathi is the Executive Director of the Bank. The Bank has been allocated with an initial capital of Rs. 1000 Crores.
The Bank has received two awards – The Asian Banker Achievement Award 2015 for Technology Implementation in the category of Best Outsourcing Project (New Bank) and the Core Banking Initiative Award 2014 by Asian Banking and Finance, Singapore.