| Consider the following statement about Bharatiya Mahila Bank (BMB), the first all women Bank in India: |
| 1. BMB was included in the second schedule of RBI Act 1934, hence it is eligible for loans from RBI and membership of clearing houses. |
| 2. As of now there are 85 branches across the country. |
| 3. It was stared with the capital of 1000 crores and provides loans to the girl child at a concessional rate, which is 0.5% lower than the normal rates. |
| 4. BMB Nahi Kali is the recurring deposit scheme for the girl child. |
| Which of the above statements is/are correct? |
A) 1, 2 and 4 only
B) 2 and 3 only
C) 2 and 4 only
D) None of the above
Correct Answer: A
Solution :
[a] Bharatiya Mahila Bank Ltd is the first of its kind in the Banking Industry in India formed with a vision of economic empowerment for women. Launched in 2 013, the Bank has carved a niche for itself as a pan India Bank with over 85 branches across the country. BMB Nanhi Kali, a Recurring Deposit scheme exclusively for the girl child ensures a secure future by building a sizeable resource to meet her future financial needs.
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