Indian Bank hands over sanction letters worth Rs 1,011 crore to over 3,000 women
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Public sector Indian Bank has handed over sanction letters worth Rs 1,011 crore to over 3,000 women, extending financial support to Self Help Groups across Tamil Nadu.Ministry of Finance, Department of Financial Services, Secretary M Nagaraju presented the cheques to the beneficiaries at a Mega Self Help Group Credit Outreach Programme held at Tamukkam Convention Centre, here.In his brief address, Nagaraju emphasised that access to capital for livelihood activities is crucial. "Such initiatives not only reduce the dependence on sources of informal credits but also help inclusion into the formal financial ecosystem," he observed."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-based bank said in a press release on Sunday.Indian Bank Managing Director and CEO Binod Kumar, Executive Directors Ashutosh Choudhury, Shiv Bajrang Singh and Brajesh Kumar Singh were present on the occasion.Indian Bank has so far assisted 5.09 lakh self help groups benefitting more than 60 lakh women. The bank currently stands as the 4th largest public sector banks in SHG financing with over 10 per cent market share and a credit portfolio of Rs 22,224 crore as of March 2025, it said.
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