India Finance Minister to set up women only bank

Members and supporters of various sexual minority groups dance during a protest meeting against all forms of violence against women in Kolkata, India on February 14, 2013.

India's finance minister has announced plans to set up the country's first ever women only bank. P Chidambaram says he hopes that it will be granted a license by October.

Supporters hope it will help women establish businesses and give them financial independence. But not everyone is a fan.

"No, no. I feel it is a very cheap and meaningless gimmick. I find it very strange. I never felt unsafe in a mixed bank. I do not think its necessary," says Rina Nag, who has spent her life working in a bank.

Women's rights have been at the center of a heated debate in India following the gang rape and murder of a 23-year-old woman in Delhi late last year. The government is hoping that the $200 million it's investing to set up the banks signals a committment to women's issues and helps produce a new generation of Indian businesswomen.


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