Finance Minister Nirmala Sitharaman has launched five Nari Shakti branches of Union Bank of India. These branches, located in Bengaluru, Chennai, Visakhapatnam and Jaipur, are to meet the financial and developmental needs of women-led businesses, aligning with India’s commitment to advance gender equality in economic participation.
In her inaugural address, Sitharaman encouraged women entrepreneurs to leverage these resources as a means to drive job creation, innovation and economic growth. She underscored the role of women in propelling India’s entrepreneurial landscape, expressing optimism that these specialised branches will empower female business leaders to harness their potential fully.
The Nari Shakti branches represent more than access to credit; these are structured to serve as comprehensive support hubs, fostering skill-building, mentorship and advisory services crucial for business growth. In addition to offering tailored financial solutions for women-owned ventures in manufacturing and services, the branches will conduct startup workshops, facilitate networking opportunities and encourage strategic collaborations among women entrepreneurs. By nurturing both new and established businesses, these branches seek to provide a robust ecosystem where female-led ventures can thrive and scale effectively.
Sitharaman emphasised the importance of technology-driven, cluster-based solutions that cater to regional economic characteristics, ensuring that financial services at these branches are accessible, efficient and aligned with local needs. She called upon women business owners to harness these resources for expanding their enterprises, positioning Nari Shakti branches as catalysts for inclusivity, economic empowerment and innovation.
