SBI opens all-women branch in Bangalore

SBI opens all-women branch in Bangalore

In an effort to empower women with their finances, the State Bank of India has set up an Indira Mahila Sakha at Indiranagar with an all-women staff.

Opened in November 2013, the branch currently has four staff members. Plans are on to increase the strength.

“The main objective is to encourage women to carry out banking and financial transactions. Our services are prioritised to serve women and cater for their needs,” branch manager Prachi Gupta said.

Though men are allowed regular transactions, priority is given to women. The bank encourages women to take up entrepreneurship and start ventures on their own by extending various loans.

In addition to making it easy for women to engage in banking activities, Gupta said the aim of the branch was to encourage them to know more about the sector. “We want to make this branch a platform for educating women, be it interests on loans, mutual funds, etc. A separate financial consultant has been appointed for this,” she said.

The branch is popular among people in the area.

Vedavathy K, a staffer, said 250 accounts had been opened in just four months. “Many have also got their accounts transferred from other branches,” she said.

SBI Bangalore (Region 4) Regional Manager G C Nayak, under whom the branch falls, said there were only a handful of such branches in the country. “With all-women staff, we are confident the branch will give more power to women.”

The bank is located at 221, 13th Cross, Indiranagar, II Stage.