New-Delhi headquartered The Bharatiya Mahila Bank (BMB) will be merged with the country’s largest lender State Bank of India (SBI).
The move will ensure that banking services are provided to more women at a faster pace, given the advantage of the large network of SBI.
SBI has already announced the merger of its five associates- State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore. The customers of these five banks will be treated as customers of State Bank of India with effect from April 1, 2017.
Takeaways from above news-
- BMB was Incorporated under the Companies Act 1956 on 5 August 2013
- Headquarter of BMB is in New Delhi
- Mrs. S M Swathi is the Executive Director of the BMB
- Motto of BMB- ‘Empowering Women, Empowering India’
- Smt. Arundhati Bhattacharya is the Chairman of SBI.
If you have any other takeaways, do share with us in the comment section
Source- The Hindu