Mahila Bank’s first branch at AI building at Nariman Point

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SummaryThe branch will be in a 5,000 sq ft space on the ground floor.

The government has chosen the iconic Air India building at

Nariman Point in Mumbai to open the first branch of Bharatiya Mahila Bank, India's first bank exclusively for women, reports Mihir Mishra in New Delhi. The branch will be in a 5,000 sq ft space on the ground floor. A senior Air India official said the company has agreed in principle to give space to the bank. “The branch will come up in the 5,000 sq ft space on the sea-facing side of the building. With the Bhartiya Mahila Bank, we will have two bank branches on the ground floor of the building — the other is a Bank of India branch,” said a senior Air India official. The Bharatiya Mahila Bank, which is expected to start operations from November, is planning to open a modest 33,400 accounts through 39 branches in its first year.

The proposed bank, to be headquartered at Delhi, will have branches in four metroes and one city each in Central and Northeastern part of the country.

Air India building has 22 floors and the national carrier has plans to get tenants for the 18 floors. Renting out floors is a part of the turnaround plan to earn Rs 5,000 crore through monetisation of assets. Of the 18 floors plus the ground, the national carrier has found tenants for seven floors and is in the process of filling other floors. Of the seven floors, State Bank of India has taken four floors and the Department of Service Tax has taken three floors. “We are getting a lot of interest from all quarters and will soon find tenants for other floors too,” said the Air India official.

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