• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Coimbatore, Nov. 27 State Bank of India has launched ‘Grameen Shakti’ – a micro insurance scheme for its Self Help Group (SHG) members.

The product was launched at the Tamil Nadu Agricultural University today. The bank is hoping to cover at least five lakh SHG members by December 31.

The scheme essentially aims to cover the economically weaker sections, focusing on SHG women members.

Mr J. Chandrasekaran, Chief General Manager, SBI (Chennai Circle), who introduced Grameen Shakti, said there was overwhelming response for the product.

Around 77,430 proposal forms were received from the SHG members soon after unveiling it.

It is a life cover for an assured sum of Rs 50,000. The premium payable on this five-year policy is Rs 601 a year.

The Chennai circle of the bank, comprising Tamil Nadu and Pondicherry, has credit linked 84,500 SHGs with a total membership of about 14 lakh.

The bank has extended financial assistance to the tune of Rs 655 crore to these groups.

More Stories on : Life Insurance | Social Welfare | State Bank of India | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line