NEWS & ADVICE : AUTO INSURANCE
BMB bank requires no more capital from govt.
By Neelima Shankar
May 12, 2014
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It has been reported that the women oriented bank – Bhartiya Mahila Bank said that it does not require more funds for its operations now. Bank reported that bank is well capitalized currently and is in no need of capital.

Finance Minister Mr. Chidambaram stated that they will provide full financial support and help to the bank as per required since it’s a new established bank , but the Bhartiya Mahila Bank which was established in November last year reported that the bank has already matched its deposits with advances and so there is no urgent need for funds.

Bank has already provided the bank with the capital of Rs 1,000 crore initially to the bank. At present bank holds for about 17,000 account and nearly 23 branches across the country, with plan of launching 57 more by the end of this fiscal year. Chairperson and Managing director of the bak stated that deposit mobilization of the bank so far has been Rs 87 crore and we have almost Rs 89 crore of advances.


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