A live feed from the hamlet, beamed into the Chief Minister’s chambers showed him and the top brass of the Indian Bank. "This is the first branch of Indian Bank under its financial inclusion plan," the Bank Chairman and Managing Director T.M.Bhasin told The Hindu, minutes ahead of the inauguration.
The branch meant a lot for the people – Self Help Groups would have better access to credit and all the wages under the Mahatma Gandhi National Rural Employment Guarantee Scheme could be channelised through the bank, leaving no scope for any wrong doing on the payment part.
In all, the Chief Minister inaugurated 21 branches and 31 ATMs of the Indian Bank spread across 11 States and two Union Territories. In a short speech after the inauguration, the Chief Minister lauded the Bank for lending to the priority sector and also SHGs in Tamil Nadu.
Of the branches inaugurated on Wednesday, apart from the Kurubarapalli branch, two microsate branches at Kaveripatnam (Krishnagiri) and Usilampatti (Madurai) will focus exclusively on financing to Self Help Groups.
Mr.Bhasin said that with the 52 banking outlets, the number of Indian Bank branches jumped to 1796. It also had 1062 ATMs. Of the total, Tamil Nadu had 768 branches (43 per cent of the total) and 532 ATMs.
Anup Sankar Bhattacharya, Executive Director of Indian Bank said that the Bank will continue to focus on priority sector in the coming years.
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