YES Bank launches all-women branch in Bengaluru

Private lender YES Bank on Tuesday launched an all-women operated bank branch 'Yes Grace' on Cunningham Road in Bengaluru aimed at offering customised banking solutions to women.

"We are happy to launch a bank entirely operated by women on Women's Day to celebrate womanhood. There is no restriction in the customer base as we serve male customers as well," said R. Ravichander, regional director during the inauguration.

The new branch served by eight employees currently and with plans to raise the count to 12 will also drive financial literacy, family banking, safety and wellness among women.

Simultaneously on Tuesday, two more all-women bank branches were opened in at Kalkaji, New Delhi and Vile Parle (E), Mumbai with plans to open more branches in major cities.

"The YES Grace branch is part of a two pronged approach by YES Bank; to promote women leadership in financial services sector and enable the evolving financial objectives of women," said the bank's CEO and MD Rana Kapoor in a statement.

Ravichander said the number of YES Bank branches will go up to 60 by 2018 in Bengaluru and Hyderabad and 1,500 all over the country by 2020.

Founded in 2004 after receiving a greenfield bank license from the Reserve Bank of India (RBI) by Rana Kapoor and Ashok Kapoor, the lender's branch network currently stands at 850 across India.