All-woman bank to start operations from Nov: PC

On whether the idea of a womens bank had been suggested by Congress president Sonia Gandhi,Chidambaram said: It is part of the Jaipur Declaration that we should consider setting up a bank for women. It is completely consistent with my own instincts and leanings. Therefore,I accepted the idea and announced a national bank for women.

He further said he will assemble the best brains from the industry to chalk out a blueprint on the bank by month-end.

Im going to ask a couple of bankers and a couple of others to sit together and write a blueprint for me. Hopefully,the blueprint will be ready by the end of March and then we will go ahead and try to implement it, he said.

According to the Finance Minister,there will be no problem in getting a licence for the all-woman bank as it will be 100 per cent owned by the Government of India. I hope to complete all the preparatory work by October,he said.

Asked whether there will be some special schemes offered to women,Chidambaram said: That will be in the blueprint that is being written. Let them write the blueprint and then I will make it public.

Chidambaram had proposed setting up of the countrys first all-woman bank while presenting the Budget on February 28.

The proposed bank will lend mostly to women and women-run businesses,provide support to women Self Help Groups SHGs and their livelihood.

Moreover,it will employ predominantly women which addresses the gender-related issues and empowerment and financial inclusion. However,it will take deposits from men and women both.