- More than 3,000 women recipients received loans totaling ₹1,011 crore from Indian Bank
- Self Help Groups (SHGs) throughout Tamil Nadu are to be empowered by the financial aid
- During a Mega SHG Credit Outreach Program, sanction letters were distributed
Indian Bank, a public sector lender, has issued sanction letters worth ₹1,011 crore to more than 3,000 women, extending high-value financial assistance to Self Help Groups (SHGs) in Tamil Nadu.
The cheques were handed over by M Nagaraju, Secretary of the Department of Financial Services, Ministry of Finance, at the Tamukkam Convention Centre during a Mega SHG Credit Outreach Programme.
In his address, Nagaraju emphasized the need for access to capital in livelihood development. "These initiatives decrease dependence on informal credit sources and enable inclusion in the formal financial system," he said. Indian Bank said in a press release that over 3,000 women from different SHGs attended the event, where sanction letters amounting to ₹1,011 crore were formally handed over.
Indian Bank's Managing Director and CEO Binod Kumar and Executive Directors Ashutosh Choudhury, Shiv Bajrang Singh, and Brajesh Kumar Singh also attended the event.
So far, Indian Bank has assisted approximately 5.09 lakh SHGs, directly benefiting more than 60 lakh women. As of March 2025, the bank is the 4th largest public sector bank in SHG lending, having a market share exceeding 10 percent and a total SHG credit portfolio of ₹22,224 crore.
Self Help Groups (SHGs) are small, voluntary groups of women (or occasionally men) of the same socio-economic background who gather to meet common problems, especially those related to financial inclusion and empowerment. With 10–20 members, SHGs help induce saving behavior, offer access to credit through group lending, and enable members to take part in income-generating activities.
Through mobilization of resources and microfinance in the form of microloans, SHGs make members financially independent, decrease dependence on moneylenders, and enhance overall socio-economic status. They also serve as centers for skill development, leadership development, and mobilization of the community.
