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Bharatiya Mahila Bank to be merged with SBI

Bharatiya Mahila Bank to be merged with SBI

New Delhi, March 20 (UNI) Government has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace. The objectives of affordable credit to women as well as propagation of women-centric products need to be quickly achieved through a wider network and lower cost of funds. The decision to merge BMB with SBI has been taken in view of the advantage of the large network of SBI among other things. In the three years since BMB was established, it has extended loans of Rs 192 crores to women borrowers, while the SBI group has provided loans of about Rs. 46,000 crore to women borrowers. SBI has a large outreach of more than 20,000 branches and lowest cost of funds in the sector. Out of the total workforce of around 2 lakh employees in SBI, 22 per cent are women. SBI group already has 126 exclusive all-women branches across the country while BMB has only seven. The proportion of administrative and managerial cost in BMB is much higher to reach the same coverage. For the same cost, a much higher volume of loans to women could be given through SBI. The Union Government is committed to enhance the access to financial services to the population at large and women in particular. Under the Pradhan Mantri Jan-Dhan Yojana, preference is given to women for overdraft facility. Pradhan Mantri Mudra Yojana had 73 per cent women borrowers in the previous financial year. UNI ADP SHK 1914

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Gujarat Polls: BJP's second list has 19 new faces, includes 13 ST, 2 SC candidates

Gujarat Polls: BJP's second list has 19 new faces, includes 13 ST, 2 SC candidates

New Delhi, Nov 18 (UNI) The Bharatiya Janata Party's second list for the crucial Gujarat polls released on Saturday include 19 new faces and among them are 13 Scheduled Tribe candidates and two belonging to Schedule Caste community.

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President to  visit 3 Northeastern States from Sunday

President to visit 3 Northeastern States from Sunday

New Delhi, Nov 18 (UNI) President Ram Nath Kovind will visit three Northeastern States – Arunachal Pradesh, Assam and Manipur - from November 19 to 22.

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Manushi Chillar of India crowned Miss World

Manushi Chillar of India crowned Miss World

New Delhi, Nov 18 (UNI) India’s Manushi Chillar was on Saturday crowned Miss World, bringing back the honour to the country after 17 years.

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'Get Ready for the Fourth Industrial Revolution' : Vice Prez

'Get Ready for the Fourth Industrial Revolution' : Vice Prez

Hyderabad, Nov 18 (UNI) “The Fourth Industrial Revolution and the advances in digital technology and robotics will together make certain types of jobs obsolete and also create many new jobs'.

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Make children feel loved at home: Sisodia to parents

Make children feel loved at home: Sisodia to parents

New Delhi, Nov 18 (UNI) Delhi Deputy chief minister Manish Sisodia said on Saturday that children today need a homely environment in which they feel not only secured and loved but are also treated with respect.

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Govt to spend 50 per cent of the budget for welfare of SC/ST: Raghubar

Govt to spend 50 per cent of the budget for welfare of SC/ST: Raghubar

Gumla, Nov 18 (UNI) Jharkhand Chief Minister Raghubar Das said that the government has spent Rs 18 thousand and 28 crore rupees for the welfare of the tribals and has decided to spend 50 per cent of the budget for the development of the SC and ST.

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LJP not to field candidates in Gujarat: Ram Vilas

LJP not to field candidates in Gujarat: Ram Vilas

Patna, Nov 18 (UNI) LJP Chief and union minister Ram Vilas Paswan today said that his party would not field candidate in upcoming Gujarat assembly election.

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