‘Women’s only’ bank in Jammu and Kashmir

Enterprising women in Jammu and Kashmir have ventured to open a women’s only bank to provide basic banking facilities and timely loans. After witnessing various cases where major banks turned down needy women’s loan applications, the founding members of Kashmir Women's Cooperative Bank were motivated to open their own venture.

The opening of Kashmir Women's Cooperative Bank is expected to supplement the empowerment of womenfolk in the valley. “Firstly it's an exclusive bank for women. Secondly, we have opened this bank to help women belonging to weaker sections and who are working or want to start their own business. Since their requirement is less, we have started providing loans starting from rupees 20,000,” said Ashiya Saleem, Manager of Kashmir Women's Cooperative Bank.

Apart from enabling several women to become self-reliant, the bank also counsels the account holders in managing their earnings and other assets. The hassle free format to open a savings account is attracting many Kashmiri women.

“I save all my savings in my account here. And whenever there is requirement of loan we can easily consult the bank and easily get loan from there,” said Parveena Akhtar, a customer of Kashmir Women's Cooperative Bank. This bank offers loans to the needy among the 'have-nots'. So far the Kashmir Women's Cooperative Bank has provided loans to nearly 30 women.