In which year was the Shri Mahila SEWA Sahakari Bank established?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1974.
The Shri Mahila SEWA Sahakari Bank was established in 1974 in Ahmedabad, Gujarat. It was founded as a cooperative bank with the primary aim of providing financial services to poor and self-employed women, especially those in the informal sector, who traditionally lacked access to formal banking. The bank was initiated under the guidance of the Self-Employed Women’s Association (SEWA), led by Ela Bhatt, to empower women economically and socially. It provides savings, credit, and other banking facilities tailored to the needs of women entrepreneurs, helping them gain financial independence and improve their livelihoods in a secure manner.