Kudos to Bank of India (BOI) one of the largest public sector banks in India for launching the opening of its Nari Shakti Savings Account with MD & CEO, Rajneesh Karnatak, in presence of the Board of Directors at the Mumbai Head Office. Star Nari Shakti is an exclusive Savings Account launched in order to target working, salaried and professionally self-employed women of age 18 and above with regular income.
Banks are one of the primary pillars of Indian economy and, therefore, are an ideal agent to play a pivotal role as far as women empowerment is concerned. Public sector banks, which have their presence even in the remote corners of the country, have traditionally been first and foremost support structure for women as far as their financial needs are concerned. To spur interest of women (especially in rural India) in availing banking services, the government of India in November 2013 took a great step of setting up the first public sector bank solely for women. With setting up of the Bhartiya Mahila Bank (BMB); a new era has begun in the Banking service sector.
BOI’s women savings account is a continuous effort to support women empowerment and Nari Shakti. In the year 2013 bank launched “BOI Star Mahila savings Bank Account” BOI has also launched the Mahila Samman Savings certificate, becoming the first bank to launch the small savings scheme designed specifically for women and girls.
The Nari Shakti Savings Account is jostled with several unique features, priveleges and concessions to attract the targeted segment. This Scheme targets women which facilitates women who opens an account under this scheme to enjoy a hassle free banking experience with all comfort and convenience. It is an conceptualized as a financial savings tool to support working women with an independent source of income, enabling them to become self-reliant and enjoy a higher degree of financial freedom.
BOI Star Nari Shakti Savings Account is offered with enriched privileges and features viz. embedded with Personal Accident insurance cover as high as Rs 100 lakhs, discounted Health Insurance and Wellness products, attractive rebate on locker rent for Gold and Diamond SB A/C holder and free for Platinum SB A/C holder, concessional rate of interest on Retail loan, waiver of processing charges on Retail loans, free issuance of debit and Credit cards and higher usage limits.
The Nari Shakti Savings Account is conceptualized as a financial savings tool to complement women with an independent source of income to become self-reliant and enjoy a higher degree of financial freedom and security. The most important initiative taken by BOi is that, bank will make a contribution of Rs 10/- towards the CSR fund for each New Nari Shakti Account opened and this CSR fund will be utilized for the socio-economic development of underprivileged women/girl children.
Now women can super charge their finances with the power of BOI’s exclusive and dedicated savings account for women. BOI Nari Shakti Savings account offers a host of privileges and concessions to meet their financial needs.
The author is a Free-lance Journalist, Writer & Cartoonist
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