New Delhi: The government on Friday set up a committee headed by former chairman and managing director of Canara Bank MBN Rao to prepare the blueprint for the country's first women's bank.
The six-member committee has been asked to submit its report by April 30, 2013, the finance ministry said in a statement.
In the national budget for 2013-14 presented Feb 28, Finance Minister P Chidambaram has proposed to set up the country's first women's bank as a public sector bank.
"The bank is expected to start functioning from November, 2013," the finance ministry said.
Members of the committee that will prepare the blueprint for the proposed bank include, MD Mallya, former chairman of Bank of Baroda, Jayshree Vyas, managing director of SEWA, Arundhati Bhattacharya, managing director of SBI Caps, Usha Ananthasubramaniam, executive director, Punjab National Bank, and K Ramakrishnan, chief executive, Indian Banks' Association.