Indian Bank received 1st Prize and the Best Bank Award for its stupendous performance for extending Credit to SHGs 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 10,900 crore touching 1 crore individuals.
Indian Bank is known for its strong presence in the Southern region with the 3 Regional Rural Banks, of which one Pallavan Grama bank is operating in Tamil Nadu, which also has the honor of receiving 3rd Best performing bank for SHG lending for the Second consecutive year.
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.
