The country’s Finance Minister Sri. P. Chidambaram had announced a plan for starting new banks solely for women in a meeting with a initial capital of Rs 1000 crore. According to him, there will be "no problem in getting a license" for the all-women bank as it will be 100 per cent owned by the government of India. India’s all women bank will start its operation from November onwards with six branches initially across the country ie east, west, north, south, centre and north east zones.
When asked whether the idea of a women's bank had been suggested by Congress president Sonia Gandhi, Chidambaram said, "It is part of the Jaipur Declaration that we should consider setting up a bank for women. It is completely consistent with my own instincts and leanings. Therefore, I accepted the idea and announced a national bank for women." He also said that he is going to assemble the best brains from the industry to chalk out the blue print of the banks . When asked whether there are exclusive schemes offered to women ,he said that he will announce it to the public once the blueprint is finalised and hopefully we may clear this at the end of March 2013.