India opens first state bank for women

India opened the country’s first state-owned bank for women Tuesday, aimed at strengthening their financial security in a country with stark rates of gender inequality, underscored especially in the past year by a string of horrific sex crimes.
Prime Minister Manmohan Singh inaugurated the Bharatiya Mahila Bank (Indian Women’s Bank) in the south of Mumbai, the country’s financial capital, home to one of seven nationwide branches that are now operational.
The idea for the bank was first announced in February at a time when the country was still reeling from the fatal 2012 gang-rape of a student in New Delhi, which sparked anger and soul-searching over the treatment of women.

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Photo: Indranil Mukherjee/AFP/Getty Images

India opens first state bank for women

India opened the country’s first state-owned bank for women Tuesday, aimed at strengthening their financial security in a country with stark rates of gender inequality, underscored especially in the past year by a string of horrific sex crimes.

Prime Minister Manmohan Singh inaugurated the Bharatiya Mahila Bank (Indian Women’s Bank) in the south of Mumbai, the country’s financial capital, home to one of seven nationwide branches that are now operational.

The idea for the bank was first announced in February at a time when the country was still reeling from the fatal 2012 gang-rape of a student in New Delhi, which sparked anger and soul-searching over the treatment of women.

Read more

Photo: Indranil Mukherjee/AFP/Getty Images