Indian Bank's Ambitious Rs 20,000 Crore SHG Credit Initiative

Public sector Indian Bank aims to disburse Rs 20,000 crore to Self Help Groups across India within the current financial year. The bank's 'Mega SHG Credit Outreach Programme' in Bhubaneswar aligns with government goals of inclusive growth and financial empowerment of women entrepreneurs.

Indian Bank, a public sector bank in India, has announced an ambitious plan to disburse Rs 20,000 crore to Self Help Groups (SHGs) nationwide during the ongoing financial year. This initiative was launched at the 'Mega SHG Credit Outreach Programme' held in Bhubaneswar.

Key officials like M Nagaraju from the Department of Financial Services and Indian Bank's MD and CEO Binod Kumar marked their presence at the event. The initiative is part of a broader national effort to empower one crore SHG women with better credit access.

The launch of the programme saw 9,961 SHGs receiving Rs 509.91 crore in financial sanction letters. Indian Bank's goals align with the government's 'Viksit Bharat 2047' mission, emphasizing inclusive growth and development led by women.

(With inputs from agencies.)