Indian Overseas Bank (IOB) has launched the “IOB-Sagar Lakshmi,” a scheme for the benefit of fisherwomen.

A press release said here that Mr M. Narendra, Chairman and Managing Director of IOB, launched the scheme in Kulai village of Mangalore taluk on August 21. Sanction letters amounting to Rs 30 lakh were handed over to 35 beneficiaries, it said.

The scheme entails financial assistance to fisherwomen engaged in selling of fresh/dry fish, fish processing, fish storage, and so on. A maximum loan of Rs 10 lakh will be considered depending upon the nature of business and its need, the release added.