The country is all set to get an all-women bank by this year with the government announcing an initial capital of Rs 1,000 crore for the purpose.

Moreover, Finance Minister P. Chidambaram while announcing the Budget proposals for 2013-14 said that the bank is likely to be set by October this year and that he propose to set up India's first women bank as the public sector. He shall provide Rs 1,000 crore as initial capital and that he hope to obtain the necessary approval and banking licence by October, 2013.

In fact, he added that the proposed bank will lend mostly to women and women run businesses while giving support to women SHGs and women's livelihood while it will employ predominately women which addresses the gender related issues and empowerment and financial inclusion.

It's indeed a great thought towards women empowerment and livelihood!

(AW:Samrat Biswas)