Business Daily from THE HINDU group of publications
Saturday, Jul 21, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Jul 21, 2007 ePaper |
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Money & Banking
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Public Sector Banks States - Tamil Nadu SHGs: Indian Bank urged to replicate TN model in Bengal
Our Bureau Coimbatore, July 20 Indian Bank, which has taken a large exposure to the self-help groups (SHGs), would continue to lend to this sector. The West Bengal Finance Minister, who has taken the cue from the success of the SHGs in Tamil Nadu, has asked Indian Bank to participate in the banker’s meet to be held in that State and replicate the Tamil Nadu model there, according to Mr M.S. Sundara Rajan, Chairman & Managing Director, Indian Bank, Chennai. Speaking after inaugurating the Financial Inclusion Project (FIP) at Chinniyampalayam near here, he said his bank has an outstanding of about Rs 600 crore with nearly 1 lakh SHGs in the country. What was a happy surprise was that nearly 99 per cent of the amount due to the bank has been repaid by the SHGs. He assured that Indian Bank would lend greater amounts to SHGs and advised the large women folks to learn some skill to earn a living and improve the quality of their lives. Since Indian Bank was a Tamil Nadu-based bank, the West Bengal Finance Minister invited the Indian Bank to participate in the state level bankers’ meeting to be held in his state and implement the SHG scheme in his state too. He (CMD) immediately accepted the suggestion and the bank would implement the scheme in other states as a `Gift of people of Tamil Nadu’. Mr.P.N. Patel, DGM and Circle Head, Indian Bank, Coimbatore said under the Financial Inclusion Project, the bank identified individuals/eligible households who do not have bank accounts.
More Stories on : Public Sector Banks | Tamil Nadu
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