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TRINITY MIRROR
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24.11.07
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Indian Bank extends help to urban poor
Microsate branch opened in Thiruvanmiyur |
Indian Bank’s Microsate II branch, the second Microsate Branch in
Chennai at LB Road, Thiruvanmiyur was inaugurated today by Electricity
Minister, Arcot N. Veeraswami in the presence of M.S. Sundara
Rajan, Chairman and Managing Director of Indian Bank.
Speaking on the occasion, Minister lauded the efforts of the
Bank in providing banking services to the common man, particularly
the urban poor.
Sundara Rajan said that the Bank is in the forefront in furthering
SHG movement in the country.
To meet the needs of the urban poor in Chennai an exclusive
micro finance branch (Microsate branch) was opened in Chetpet
earlier. The branch has so far covered over 1 lakh families
in Chennai.
The Thiruvanmiyur branch will serve the self help groups formed
in the neighbourhood of Mylapore, RA Puram, Teynampet, Besant
Nagar, Adyar, Thiruvanmiyur, Indira Nagar, Velachery, Taramani,
Siruseri, Sholinganallur and nearby areas. Credit assistance
to 1030 groups to the tune of Rs.10.21 crores was disbursed
today, besides scholarships to 1,846 children of SHG members
amounting to Rs.10.38 lakhs for pursuing their education.
A. Subramanian, Executive Director and K.Natarajan, DGM and
Circle Head were also present.
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