Indian Bank, the state-run lender has won the ‘Golden Peacock Innovative Products/Service Award' for 2011. T. M. Bhasin, Chairman and Managing Director of the bank have received the award at the World Congress on total quality, held in Bengaluru on Saturday.
The bank is acknowledged for its contribution to promotion of self help groups (SHGs). SHGs have turned out to be major vehicles of women empowerment. Indian Bank has so far disbursed Rs 1,360 crore to 55,391 SHGs in the current year, taking the total exposure under the SHG portfolio to Rs 2,336 crore, benefiting 175,390 SHGs.
