Public sector Indian Bank has extended financial support to over 3,000 women from various self-help groups (SHGs) across Tamil Nadu, sanctioning credit worth Rs 1,011 crore in a special outreach event.

Ministry of Finance, Department of Financial Services, Secretary M Nagaraju presented the cheques to the beneficiaries at a SHG credit outreach programme held at Tamukkam Convention Centre.

Nagaraju said that access to capital for livelihood activities is crucial. "Such initiatives not only reduce the dependence on sources of informal credits but also help inclusion into the formal financial ecosystem," he noted.

"More than 3,000 women from various self-help groups across Tamil Nadu were part of the event. Sanction letters to the tune of Rs 1,011 crore were handed over during the mega SHG credit outreach programme," the Chennai-based bank said in an official statement.

Indian Bank managing director and CEO Binod Kumar, executive directors Ashutosh Choudhury, Shiv Bajrang Singh and Brajesh Kumar Singh were present on the occasion.

Indian Bank has so far assisted 5.09 lakh SHGs benefitting more than 60 lakh women. 

The bank currently stands as the 4th largest public sector bank in SHG financing with over 10% market share and a credit portfolio of Rs 22,224 crore as of March 2025, it said.