Indian Bank to disburse Rs 100 cr through SHGs

Indian Bank plans to sharpen its focus on financing through self-help groups (SHGs), targeting disbursement of Rs 100 crore this fiscal. So far the bank has disbursed Rs 335 crore to about 33,000 SHGs across the country, with focus on the southern States, in the last three years. The bank, which has a network of 27 special branches handling this category of financing, plans to open seven more such branches this year.

SHG members are utilizing the loan amount for various income generating activities such as tailoring, pickle making and small scale textile business. The members also organize exhibition-cum-sale as part of their marketing initiative.