▁Ind ira ▁Gand hi . ▁As ▁part ▁of ▁the ▁Mod i ▁government ' s ▁bank ing ▁re forms ▁and ▁to ▁ensure ▁greater ▁bank ing ▁out re ach ▁to ▁women , ▁the ▁bank ▁merged ▁with ▁State ▁Bank ▁of ▁India ▁on ▁ 1 ▁April ▁ 2 0 1 7 . ▁ ▁While ▁being ▁run ▁by ▁women , ▁and ▁l ending ▁exclus ively ▁to ▁women , ▁the ▁bank ▁allowed ▁depos its ▁to ▁flow ▁from ▁everyone . ▁India ▁was ▁the ▁third ▁country , ▁after ▁Pakistan ▁and ▁T anz ania , ▁to ▁have ▁a ▁bank ▁exclus ively ▁to ▁benefit ▁women . ▁ ▁Bank ing ▁for ▁women ▁In ▁India , ▁only ▁ 2 6 % ▁of ▁women ▁have ▁an ▁account ▁with ▁a ▁formal ▁financial ▁institution , ▁compared ▁with ▁ 4 6 % ▁of ▁men . ▁This ▁has ▁changed ▁after ▁the ▁init iation ▁of ▁Pr ad han ▁Man th ri ▁Jan ▁D han ▁Y oj ana ▁– ▁accounts ▁of ▁women ▁jump ed ▁rad ically ▁to ▁ 6 0 %. ▁That ▁means ▁an ▁account ▁in ▁either ▁a ▁bank , ▁a ▁credit ▁union , ▁a ▁co - oper ative , ▁post ▁office ▁or ▁a ▁micro fin ance ▁institution , ▁according ▁to ▁a ▁study ▁by ▁the ▁World ▁Bank . ▁Also , ▁for ▁women , ▁per ▁cap ita ▁credit ▁is ▁ 8 0 ▁per ▁cent ▁lower ▁than ▁males . ▁ ▁Furthermore , ▁the ▁results ▁of ▁a ▁study ▁using ▁a ▁global ▁dataset ▁covering ▁ 3 5 0 ▁Micro fin ance ▁Institution s ▁( M F Is ) ▁in ▁ 7 0 ▁countries ▁indicates ▁that ▁more