The government has chosen the iconic Air India building at Nariman Point in Mumbai to house the first branch of Bhartiya Mahila Bank, India’s first bank exclusively for women.
The branch will occupy 5,000 sq ft on the ground floor of the building. A senior Air India official said that the airline 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 the official. Bharatiya Mahila Bank, which is expected to start operations from November, is eyeing a modest 33,400 customer accounts through 39 branches across the country in its first year. The proposed bank, to be headquartered at Delhi, will have branches in four metros and one city each in central and northeastern parts 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 are in the process of filling other floors. Of the seven, 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.
*The government has chosen the Air India building in Mumbai to house the first branch of Bharatiya Mahila Bank
*Branch will occupy 5,000 sq ft on the building’s ground floor
*The Bank is expected to start operations from November