Shillong, March 25 (IANS): Bharatiya Mahila Bank (BMB) Tuesday unveiled its 21st branch in the matrilineal state of Meghalaya.

Shillong branch, the first branch of the BMB in this mountainous state capital of Meghalaya, is dedicated to the public and the women in particular.

"It is a privilege for our (all-women) bank to have a branch in this matrilineal state of Meghalaya. Our bank which is an all-women bank is designed to cater to the needs of women and offer them the entire banking and financial services," said BMB chairman and managing director Usha Ananthasubramanian.

"There are some specially designed schemes of the BMB to encourage women, especially rural women to become entrepreneurs. The bank will cater to every segment of women from self-help groups to lower middle class women to high net worth individuals with the basket of various products to ensure inclusive and sustainable growth," she said.

Ananthasubramanian said BMB will first concentrate in the state capitals and would later penetrate remote areas across India to empower women and also to broaden the social base of development.

Moreover, she said the BMB is attempting to set up 80 branches across India by March 2015.

The bank inaugurated its first branch in Mumbai Nov 17, 2013.