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Six member committee to prepare blueprint for first women's bank

Updated: Mar 11, 2013 01:47:12pm
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New Delhi, Mar 11 (KNN) A six-member committee has been constituted by the Ministry of Finance to prepare the blueprint for the proposed first Women’s Bank.
 
The team includes M B N Rao, Ex-CMD, Canara Bank Chairperson, M D Mallya, Ex-CMD, Bank of Baroda, JayshreeVyas, MD, SEWA, Arundhati Bhattacharya, MD and CEO, SBI Caps, UshaAnanthasubramaniam, ED, PNB and K Ramakrishnan, Chief Executive, Indian Banks’ Association, according to an official statement.
 
The Union Finance Minister, P Chidambaram in his Budget Speech 2013-14 had proposed the setting up of India’s First Women’s Bank as a Public Sector Bank.  An initial capital of Rs 1000 crore was earmarked for the same.

The Committee is expected to submit its report by Apr 30, 2013.
 
The Finance Minister had also mentioned in his Budget Speech that necessary approvals including banking licence,etc would be obtained by Oct 2013. The Bank is expected to start functioning from November, 2013. (KNN/SK)
 

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