Indian Bank has received first prize and Best Bank Award for its stupendous performance for extending Credit to self-help group (SHG). The bank has received this award from Government of Tamil Nadu consecutively for fifth year. The Bank is pioneer in the field of SHG lending since 1989 and 7 lakh groups have been assisted with an aggregate credit of over Rs 10900 crore touching 1 crore individuals.
Indian Bank has reported 19.99% fall in its net profit at Rs 264.50 crore for third quarter ended December 31, 2013 as compared to Rs 330.58 crore for the same quarter in the previous year. However, total income of the bank has increased by 8.60% at Rs 4112.33 crore for quarter under review as compared to Rs 3786.69 crore for the quarter ended December 31, 2012.
