Indian women banks are likely to start working from November this year. It is hailed as the pet project of UPA govt with an eye on the elections.
Initially, 115 women officers would be appointed. The first six branches of the women banks would be set up in Mumbai, Delhi, Kolkata,Chennai, Indore and Guwahati by 15th October.
Finance Minister Chidambaran had proposed to begin women bank in this year’s budget. Rs.1000 crore has been allocated for the project. The proposed women bank would be headquartered in Delhi.
However, govt shows no interest in already existing women cooperative banks which are doing wonderful without any support. Organized cooperatively such banks can teach a lesson or two to the Centre.