|From the Indian Express 20th November, 2013|
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Wednesday, November 20, 2013
UNBELIEVABLE! Bharatiya Mahila Bank is NOT an all women’s bank of India
[Editor: Understood this point but still it will cater more to the people belonging to a particular GENDER. Therefore, the question is why should any government pursue such RACIST POLICIES, which might create a clash of interest among the genders ?]
Mumbai, November 19, 2013: So were you thinking that the newly inaugurated Bharatiya Mahila Bank (BNB) is an all women’s bank? Well, you just guessed wrong! BNB is not an all women’s bank as its name suggests.
BNB although focuses on lending predominantly to women and firms and companies that cater women activities or products, the bank has no restrictions imposed on deposits by men.
It is important to know that 36% of probationary officers recruited in BNB are men. The percentage is more than one third of total recruited officers.
Here is another striking fact pertaining to lending policies of the PSU bank. While chiefly women shall be sanctioned loans, the current objective is to attain a 60:40 ratio. It implies, 40 % of the funds can be loaned out to men as well. The fact was revealed by financial daily The Mint.
BNB claims to assist economic activity of women, to help enhance skills and focus on development of the fairer sex. Reports are that women shall be provided small concessions on grants as well.
Prime Minister Manmohan Singh, Congress Vice President Sonia Gandhi (daughter in law of late Indira Gandhi) and Finance Minister P Chidambaram were present dignitaries at the inauguration of the PSU bank.
BMB was inaugurated in Mumbai at the birth anniversary of late Indian Prime Minister Indira Gandhi
Mahmohan Singh, at the ceremony, after congratulating administration said, ‘I am reaffirming our government’s deep commitment to working for a brighter future for our women and ensuring their safety and security’.
P Chidambaram on the event said, ‘Empowerment of women is an article of faith for the UPA government. The Bharatiya Mahila Bank is not a symbol of empowerment of women, it is the substance of empowerment of women, along with many other measures that the government has taken and will take in the future’.
Chidambaram further anticipated the targeted growth of bank 20 years down. ‘Bank credit is expected to grow at a compounded annual growth rate of 16.5% during the 20-year-period from 2010 to 2030. That will mean a 20-fold-increase from the level of credit in 2010’, he said.
‘The deposit base is expected to grow at a compounded annual growth rate of 14.6%, i.e. 14 times the level of deposits in 2010. But assuming that the level remains the same, even at that level, total credit to women will grow to Rs. 25,00,000 crore. There is therefore an opportunity, to reach more credit to more women’, Chidambaram added.