It has been reported that the women oriented bank of the country- Bhartiya Mahila Bank in its first year of operation achieved its disbursal target. Bank has given loans of Rs 89 crore mainly to the women of NBFCs.
The bank has given the loan of about Rs 70 crore in the first five months of its banking. In the beginning year of its working, bank is doing quite well. In the November-March period, BMB raised around Rs.87 crore in deposits. Nearly 87% of that came from women. BMB is initiated specifically to promote the status of the women and help the rural women in accessing the banking facilities. Bank is now looking up to provide the loan to the rural people through the Self help groups. But in order to achieve bigger scale and become commercially feasible, bank cannot focus only on gender-focused banking.
For the coming fiscal year bank is planning to do better and disburse an amount of loan up to Rs 800 crore and receive Rs 1,000 crore in deposits.