The Hindu Business Line : Indian Bank keen on micro-credit

Indian Bank, the third-largest player in terms of financing of self-help groups (SHGs), has proposed to step up efforts to link more groups through micro-credit in the coming days.

The bank, which has recorded a cumulative disbursement of about Rs 1,494 crore on this front, has catered to 1.08 lakh SHGs so far.

Indian Bank on Tuesday rolled out a micro-satellite branch in Kolkata, the fourth of its kind, to link 1,000 SHGs in the current year. The new branch, noted Mr M.S. Sundara Rajan, Chairman and Managing Director, is a special initiative of sorts, aimed at being an “SHG only” establishment. The three other micro-satellite branches operate in Chennai, Patna and Vijayawada.

The bank intends to open another seven such branches in various States, including Kerala, Orissa and Karnataka.

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