Mahila Banks ramping up technology & security

These women banks motivate as well as train their customers to use modern technology:

- Mehul

Chetna Vijay Sinha there is rising demand of micro enterprise loans from ₹1 lakh to ₹5 lakhs

The Mann Deshi Mahila Sahakari Bank was set up in 1997 after Kantabai, a welder who worked and lived with her family on the footpath in Mhaswad, rural Maharashtra, approached Chetna Sinha. She narrated a harrowing account of being rejected by several banks when she tried to open an account. Kantabai simply wanted a safe space to save some money so she could buy tarpaulin sheets to protect her home in the monsoons. Chetna Sinha decided to set up a bank for women like Kantabai. 1335 women pooled their savings (0.78 million) and set up the first bank for and by rural women in India. It remains a member-driven and memberowned bank.

The Udaipur Mahila Samridhi Urban Cooperative Bank, established in 1995, was founded by Kiran Maheshwari, who became its first chairman, with Kiran Jain being the first vice-chairman. The bank has made a remarkable progress during the last 27 years of dedicated services in its all products and schemes for women.

Laxmibai Mahila Nagrik Sahakari Bank, popularly known as Laxmi Bank, became the first co-operative bank in the entire central India in 1998, to be accorded the scheduled status by Reserve Bank of India. The chairperson of the bank Alka Shrivastava herself has been taking keen interest in providing affordable banking to the downtrodden women and empowering women in SHGs to be independent.

Konoklota Mahila Urban Co-operative Bank of Jorhat is taking a prominent part in upliftment of economic status of women since 1998. It is the only all women bank in Assam and one of its kind in entire North East India. Sakuntala Devi is the chairperson of the bank.