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Banks for women

Indraneel Sen Gupta 
on 21 March 2013

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8th March 2013 is being a special day which is not marked as a red letter day in the calendar but celebrated across the world as International Women's Day. Those who don’t know the background for international women’s day for them this small intro will make them understand better.

The first national Women's Day was observed on 28 February 1909 in the United States following a declaration by the Socialist Party of America Well being Indian I am ashamed to celebrate the International women’s day as in past couple of months the number of rape case per day in India has migrated from 2 case per day to 4 case per day totalling to 180 above rape cases in India. Many of my readers might acclaim that India is not the alone country on the earth to go for chasing the highest total rapes, there are many countries leading in the crime.  All I can say to them is that eye for eye is not the solution. Well I am shifting out from the main part of the topic which is related to the Union Budget of 2013-14. The Indian government invited every member of the parliament for the inauguration of the 1st Women Bank. Well this was not a gift for the International Women’s Day but it has some rock solid economic factors to support.

Women lending has made a phenomenal growth over the last couple of years. The data from RBI makes the decision of women bank to be very strong.

Women Lending Rs.in (Cr)

Years

2009-10

2010-11

2011-12

Lending Amount

139549

182667

223000

Growth

31%

22%

This reveals that women business opportunities are growing that entrepreneurship growth is equivalently growing. In my research I found that state wise contribution of Small Scale entrepreneurship by women are on the rise.

State-wise distribution of small scale industrial units owned by women entrepreneurs

S.No.

 State/Union Territory

 No. of SSI Units

 Percentage to Total

 1

 Kerala

 139225

 13.09

 2

 Tamil Nadu

 129808

 12.20

 3

 Karnataka

 03169

 9.70

 4

 Maharashtra

 100670

 9.46

 5

 Andhra Pradesh

 77166

 7.25

 6

 Uttar Pradesh

 72667

 6.83

 7

 West Bengal

 69625

 6.55

 8

 Madhya Pradesh

 68823

 6.47

 9

 Gujarat

 53703

 5.05

 10

 Bihar

 49443

 4.65

 11

 Orissa

 38233

 3.59

 12

 Rajasthan

 36371

 3.42

 13

 Punjab

 29068

 2.73

 14

 Delhi

 14383

 1.35

 15

 Assam

 11757

 1.11

 16

 Manipur

 10745

 1.01

 17

 Chhattisgarh

 10034

 0.94

 18

 Haryana

 9620

 0.90

 19

 Uttaranchal

 8804

 0.83

 20

 Jharkhand

 7865

 0.74

 21

 Jammu and Kashmir

 5742

 0.54

 22

 Himachal Pradesh

 3722

 0.35

 23

 Mizoram

 3700

 0.35

 24

 Meghalaya

 3580

 0.34

 25

 Chandigarh

 2243

 0.21

 26

 Pondichery

 1065

 0.10

 27

 Tripura

 863

 0.08

 28

 Goa

 810

 0.08

 29

 Daman, Diu , Dadra and Nagarhaveli

 213

 0.02

 30

 Nagaland

 179

 0.02

 31

 Arunachal Pradesh

 150

 0.01

 32

 Andaman and Nicobar Island

 110

 0.01

 33

 Sikkim

 98

 0.01

 34

 Lakshadweep

 67

 0.01

In 2001 RBI changed the law and created the revolution for the women of India. RBI made mandatory 5% of the net of PSB lending would be directed towards women. The revolution created its impact by surpassing the limit on 2011-12 to 7.3%. Recently RBI has extended that women are entitled to get Rs.50000 for each borrower. In 2011-12   15 million women got benefit from the lending programme of RBI.

Among the various banks the lending figure is very much impressive enough for the PSB.

Rs.in (Cr.)

Number

SBI

45284

3.2million Accounts

Canara Bank

25300

1.3million Accounts

Indian Overseas Bank

14000

1.25 million Accounts

Indian Bank

9590

1 million Accounts

PNB

11800

750300 Accounts

BOB

8000

7 lac Accounts

According to the recent study by the World Bank there are just 26% women account holders as compared to 46% men’s in India. This is an opportunity which has lead the government to go for exclusive women Bank. Since women park their monetary segment either with Cooperative societies, Credit Unions, Post Office and micro finance organizations. Well more than 6, 50,000 villages in India don’t have banks hence this is an immense opportunity for the banking space to grow. But a question comes to mind that why these numbers and values were not identified earlier. Since, we still value women as pound of flesh and as food stuff for the cannibal part of the society. Happy International Women’s Day.


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