NEW DELHI: Public sector Indian Bank has disbursed sanction letters worth Rs 1,011 crore to more than 3,000 women from Self Help Groups (SHGs) across Tamil Nadu, in a bid to strengthen financial inclusion and support grassroots entrepreneurship.
The cheques were presented by M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, at a Mega Self Help Group Credit Outreach Programme held at the Tamukkam Convention Centre in Madurai.
Speaking at the event, Nagaraju underlined the importance of capital access for livelihood activities. “Such initiatives not only reduce the dependence on informal credit sources but also promote inclusion into the formal financial ecosystem,” he said.
According to Indian Bank, the initiative is part of its broader push towards SHG empowerment. “More than 3,000 women from various self-help groups across Tamil Nadu were part of the event. Sanction letters to the tune of Rs 1,011 crore were handed over during the mega SHG credit outreach programme,” the Chennai-headquartered bank said in a press release on Sunday.
Indian Bank Managing Director and CEO Binod Kumar, along with Executive Directors Ashutosh Choudhury, Shiv Bajrang Singh and Brajesh Kumar Singh, were also present.
So far, Indian Bank has supported 5.09 lakh SHGs, impacting over 60 lakh women. It currently ranks as the fourth-largest public sector bank in SHG financing, with over 10% market share and a credit portfolio of Rs 22,224 crore as of March 2025.
The cheques were presented by M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, at a Mega Self Help Group Credit Outreach Programme held at the Tamukkam Convention Centre in Madurai.
Speaking at the event, Nagaraju underlined the importance of capital access for livelihood activities. “Such initiatives not only reduce the dependence on informal credit sources but also promote inclusion into the formal financial ecosystem,” he said.
According to Indian Bank, the initiative is part of its broader push towards SHG empowerment. “More than 3,000 women from various self-help groups across Tamil Nadu were part of the event. Sanction letters to the tune of Rs 1,011 crore were handed over during the mega SHG credit outreach programme,” the Chennai-headquartered bank said in a press release on Sunday.
Indian Bank Managing Director and CEO Binod Kumar, along with Executive Directors Ashutosh Choudhury, Shiv Bajrang Singh and Brajesh Kumar Singh, were also present.
So far, Indian Bank has supported 5.09 lakh SHGs, impacting over 60 lakh women. It currently ranks as the fourth-largest public sector bank in SHG financing, with over 10% market share and a credit portfolio of Rs 22,224 crore as of March 2025.
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