BMB Full Form

by Yogi P - October 5, 2023

Full form of BMB

BMB stands for Bharatiya Mahila Bank, which was an Indian investment bank located in Mumbai. It was launched on November 19, 2013, by former Indian Prime Minister Manmohan Singh on the 96th anniversary of former Indian Prime Minister Indira Gandhi’s birthday. On April 1, 2017, BMB merged with the State Bank of India (SBI) as part of the Modi government’s banking sector reforms and to enable high banking reach to women.

BMB’s main goal

BMB was a unique bank in that it was specifically designed to support women. It was led by women and offered a range of banking products and services specifically tailored to the needs of women. BMB also focused on providing financial literacy education to women and helping them to start and grow their own businesses.

Why was BMB important?

Women in India face many challenges, including financial exclusion. BMB was established to help address this challenge by providing women with access to banking services and financial education. The bank also played an important role in promoting women’s empowerment and economic development.

Conclusion

BMB was a pioneering bank that made a significant contribution to the lives of women in India. Although it is no longer in operation, its legacy continues to inspire banks and other financial institutions to develop products and services that meet the needs of women.