Ministry of Finance, Division of Monetary Companies, Secretary M Nagaraju offered the cheques to the beneficiaries at a Mega Self Assist Group Credit score Outreach Programme held at Tamukkam Conference Centre, right here.
In his temporary tackle, Nagaraju emphasised that entry to capital for livelihood actions is essential. “Such initiatives not solely scale back the dependence on sources of casual credit but additionally assist inclusion into the formal monetary ecosystem,” he noticed.
“Greater than 3,000 ladies from varied self-help teams throughout Tamil Nadu had been a part of the occasion. Sanction letters to the tune of Rs 1,011 crore had been handed over throughout the mega SHG credit score outreach programme,” the Chennai-based financial institution stated in a press launch on Sunday.
Indian Financial institution Managing Director and CEO Binod Kumar, Government Administrators Ashutosh Choudhury, Shiv Bajrang Singh and Brajesh Kumar Singh had been current on the event.
Indian Financial institution has thus far assisted 5.09 lakh self assist teams benefitting greater than 60 lakh ladies. The financial institution at present stands because the 4th largest public sector banks in SHG financing with over 10 per cent market share and a credit score portfolio of Rs 22,224 crore as of March 2025, it stated.