Chidambaram promises India’s first all-women bank by October

India is set to get its first all-women bank by this year.

Chidambaram announced India's first all-women bank by OctoberFiance minister P Chidambaram proposed to set-up India’s first all women bank with initial capital of Rs. 1,000 crore in his budget speech for 2013-14.

The proposed bank is likely to be set by October 2013.

“I…propose to set up India’s first women bank as the public sector. I shall provide Rs. 1,000 crore as initial capital. I hope to obtain the necessary approval and banking licence by October, 2013,” finance minister said.

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