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NEW INDIAN EXPRESS
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26.11.07
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| Indian Bank opens micro-finance branch |
Tamil Nadu State Electricity Minister Arcot N Veeraswami inaugurated the second Microsate branch of Indian Bank at Thiruvanmiyur on Saturday.
The bank opened a Microsate branch, an exclusive branch for micro-finance, in 2005 in Chetpet to meet the needs of the urban poor in Chennai. It has covered over 1 lakh families till date.
According to the release, the second branch will cater to the Self-Help Groups (SHGs) formed in Mylapore, R A Puram, Teynampet, Besant Nagar, Adyar, Tiruvanmiyur, Indira Nagar, Velachery, Taramani, Siruseri and Sholinganallur.
It has so far credit-linked more than 2.30 lakh SHGs to the tune of Rs 1,545.48 crore. It also has plans to open four more branches in Bhubaneshwar, New Delhi, Pune and Bangalore.
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