Indian Bank fingers over sanction letters value 1,011 cr to over 3,000 ladies

Public sector Indian Bank has handed over sanction letters value ₹1,011 crore to over 3,000 ladies, extending monetary help to Self Help Groups throughout Tamil Nadu.

Ministry of Finance, Department of Financial Services, Secretary M. Nagaraju introduced the cheques to the beneficiaries at a Mega Self Help Group Credit Outreach Programme held at Tamukkam Convention Centre, in Madurai.

In his transient handle, Mr. Nagaraju emphasised that entry to capital for livelihood actions is essential. “Such initiatives not only reduce the dependence on sources of informal credits but also help inclusion into the formal financial ecosystem,” he noticed.

“More than 3,000 women from various self-help groups across Tamil Nadu were part of the event. Sanction letters to the tune of ₹1,011 crore were handed over during the mega SHG credit outreach programme,” the Chennai-based financial institution mentioned in a press launch on Sunday (July 13, 2025).

Indian Bank Managing Director and CEO Binod Kumar, Executive Directors Ashutosh Choudhury, Shiv Bajrang Singh and Brajesh Kumar Singh have been current on the event.

Indian Bank has thus far assisted 5.09 lakh self assist teams benefitting greater than 60 lakh ladies. The financial institution presently stands because the 4th largest public sector banks in SHG financing with over 10 per cent market share and a credit score portfolio of ₹22,224 crore as of March 2025, it mentioned.