For the women employees working for the Bharatiya Mahila bank, the bank is planning to give them allowance for child care, this initiative is first time taken by the human resource department in the sector of public banking.
Amount for allowance
The allowance is for children up to 12 years would be Rs.6000 annually or Rs.500 monthly. It is subjected to only two children. Currently there are seven branches operational of the women's bank. ( Lucknow, Ahmedabad, Bangalore, Guwahati, Kolkata, Chennai and Mumbai) It plans to have by the end of March 25 branches.
In the public bank sector, the Mahila bank is the first to offer high interest on the deposits of saving banks. For the balances which are up to Rs.1 lakh, the bank is offering an interest rate of 4.5 percent. Above Rs.1 lakh, the interest rate is 5 percent, In comparison to other banks which offer an interest rate of 4 percent.