Indian Bank will give loans of Rs 1,011 crore to more than 3,000 women in Self-Help Groups (SHGs) in Tamil Nadu. The motion was made under the scope of a Mega SHG Credit Outreach Programme at the Tamukkam Convention Centre, located in Madurai.
The event was facilitated by the Ministry of Finance, under the Department of Financial Services. The beneficiaries were presented with the allowances, accompanied by the sanction letters, which were provided personally by Secretary M. Nagaraju.
Nagaraju observed that access to capital is essential in the empowerment of livelihood activities. He said that credit outreach programmes would make it easier to overcome reliance on the informal sources of credit and facilitate better entry into the formal financial market.
Indian Bank Managing Director and CEO Binod Kumar, along with Executive Directors Ashutosh Choudhury, Shiv Bajrang Singh, and Brajesh Kumar Singh, were present on the occasion. The bank, which has Chennai as its head office, informed us that more than 3,000 women in various SHGs were involved in the program.
Through a press release issued on Sunday, the bank claimed that it has been supporting more than 5.09 lakh SHGs and has touched nearly 60 lakh women in different regions. Now, the bank has emerged as the fourth biggest lender in the public sector in India in SHG finance.
Indian Bank's SHG credit book position was Rs 22,224 crores as of March 2025, which is more than 10 %of the total market share in terms of SHG lending. The bank remains committed to enhancing women-owned entrepreneurship through easy access to institutional finance.
The initiative reaffirms the overall state policy of increasing financial inclusion and helping rural women become self-sufficient. The approved loan facilities are expected to finance numerous income-generating projects, which in turn will boost the local economy. The bank has also reaffirmed its commitment to reaching and addressing women in rural India and to maintaining this commitment in the subsequent month.