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Indian Bank's SHG credit outreach benefits 3,000 women in TN

Indian Bank's SHG credit outreach benefits 3,000 women in TN

Time of India20 hours ago
Madurai: Indian Bank organised a 'Mega SHG Credit Outreach Programme' at Tamukkam Convention Centre on Saturday, benefiting over 3,000 women from self-help groups (SHGs) across Tamil Nadu.
The event, held under a nationwide initiative of the department of financial services (DFS), marked a significant push towards financial inclusion and women-led development as part of the "Viksit Bharat 2047" vision.
Addressing the gathering, DFS secretary M Nagaraju said the SHG-bank linkage, which began in 1982, has since grown into a nationwide movement reaching 178 million households. "Today, 14.42 million SHGs are linked to savings accounts, and 7.74 million have access to credit.
More than 58% of these operate under the National Rural Livelihoods Mission (NRLM)," he said.
Nagaraju noted that SHG-bank linkages are strongest in southern and eastern India, each contributing 30% of the total. He urged experienced SHGs to explore business loans backed by government guarantees.
Indian Bank has also opened 57 exclusive microsite branches, including 35 in Tamil Nadu, to serve SHGs.
MSID:: 122419829 413 |
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Indian Bank's SHG credit outreach benefits 3,000 women in TN
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Time of India

time20 hours ago

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Indian Bank's SHG credit outreach benefits 3,000 women in TN

Madurai: Indian Bank organised a 'Mega SHG Credit Outreach Programme' at Tamukkam Convention Centre on Saturday, benefiting over 3,000 women from self-help groups (SHGs) across Tamil Nadu. The event, held under a nationwide initiative of the department of financial services (DFS), marked a significant push towards financial inclusion and women-led development as part of the "Viksit Bharat 2047" vision. Addressing the gathering, DFS secretary M Nagaraju said the SHG-bank linkage, which began in 1982, has since grown into a nationwide movement reaching 178 million households. "Today, 14.42 million SHGs are linked to savings accounts, and 7.74 million have access to credit. More than 58% of these operate under the National Rural Livelihoods Mission (NRLM)," he said. Nagaraju noted that SHG-bank linkages are strongest in southern and eastern India, each contributing 30% of the total. He urged experienced SHGs to explore business loans backed by government guarantees. Indian Bank has also opened 57 exclusive microsite branches, including 35 in Tamil Nadu, to serve SHGs. MSID:: 122419829 413 |

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