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