Indian Bank to Disburse Rs 20,000 Crore to Self-Help Groups in FY26

Chennai, Apr 21 (KNN) Indian Bank, a public sector lender headquartered in Chennai, has announced plans to disburse Rs 20,000 crore to Self-Help Groups (SHGs) across India in the current financial year (FY26). 

This initiative aims to empower grassroots women entrepreneurs and support inclusive economic growth.

In a recent 'Mega SHG Credit Outreach Programme' held in Bhubaneswar, the bank sanctioned Rs 509.91 crore to 9,961 SHGs. 

The event was attended by M Nagaraju, Secretary of the Department of Financial Services, Binod Kumar, MD & CEO of Indian Bank, and Mahesh Kumar Bajaj, Executive Director. 

This programme is part of a nationwide effort to provide credit access to one crore women SHG members, aligning with the government's 'Viksit Bharat 2047' vision for inclusive development.

The Reserve Bank of India (RBI) has also encouraged banks to simplify loan procedures for SHGs, making financing more accessible and inclusive. 

SHGs play a crucial role in promoting savings habits and income-generating activities among women, contributing to their economic empowerment.

Indian Bank's commitment to this initiative underscores its dedication to supporting women-led development and fostering financial inclusion at the grassroots level.

(KNN Bureau)