The Hindu Business Line : Andhra Bank to lend more to women

ANDHRA Bank has chalked out a programme of empowering women by increasing lending, especially in the backdrop of rising individual and household incomes and consumption levels.

To meet the needs of fast changing lifestyles with increased demand for lifestyle products, the bank plans to increase its focus on this segment with innovative loan products, the bank's Chairman and Managing Director, Mr T.S. Narayanasami, said.

He was addressing the women customers who had taken loans for the purchase of gold and jewellery from the bank's strategic partner, Kirtilal Kalidas & Company here on Monday.

The bank will focus more on disbursing loans for the purchase of gold and jewellery.

Last fiscal, the bank had disbursed loans to the tune of Rs 541 crore against gold.

As against the government's advise of achieving credit flow of five per cent of net bank credit to women borrowers, Andhra Bank has sanctioned loans of Rs 1,165 crore to women as at the end of March 2005, which amounted to more than 6.5 per cent of net bank credit of Rs 17,910 crore, the bank's Executive Director, Mr R. Balakrishnan, said.

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