Scholar Nirupama Borgohain inaugurates the country’s first women’s bank branch in Guwahati on Tuesday. Picture by UB Photos

Guwahati, Nov. 19: A branch of the country’s first women’s bank was inaugurated here today.

Guwahati happens to be among the six different cities — Ahmadabad, Lucknow, Calcutta, Mumbai and Chennai — where the branches of the Bharatiya Mahila Bank were simultaneously launched today.

The branches were opened after Union finance minister P. Chidambaram announced the formation of the country’s first women’s bank as a public sector bank while presenting this year’s budget.

Five women opened their saving accounts in the bank, while a few women entrepreneurs have applied for loans. The bank documents were handed over to them during a function organised to celebrate the bank’s launch today.

“We are very glad to launch the first women’s bank in Guwahati along with five other cities across the country. The fundamental objective behind opening the Bharatiya Mahila Bank is to economically empower women. We aim to facilitate inclusive growth among all sections of women in both urban and rural areas by addressing their financial needs. This will help promote entrepreneurship among women so that they can become independent economically,” said M. Salaria, one of the deputy general managers of the Bharatiya Mahila Bank.

“The launch of this bank is another important step to empowering women in the country. Today, women have forayed into different areas and have succeeded remarkably well. This bank will give first preference to women by offering her with all financial assistance and also promoting financial literacy among them,” said Sanjay Kumar Magoo, chief general manager of State Bank of India, Northeast circle.

However, though operating as a women’s bank, its staff will comprise both men and women.

The branch here at present has five employees — three women and two men. The senior officials have been appointed on deputation from other public sector banks.