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Special micro finance unit inaugurated
COIMBATORE: An Indian Bank special unit for micro finance (IBSUM) has been opened at the Pasur branch of the bank in the district. A bank release said that the District Collector, S. Kosalaraman, inaugurated the unit. He also distributed micro credit to 63 self-help groups (SHGs) to the tune of Rs. 45 lakhs. Further, Rs. 60 lakhs of farm credit was distributed to 50 farmers. This included 12 tractor loans. The Chief Manager of the rural banking department of the bank, M. Padmanaban, said the IBSUM concept was conceived by the bank last year and was tried out on a pilot basis at Paramakudi. The special unit would cater exclusively to the needs of the SHGs in formation, training, counselling and credit linkage. — Our Staff Reporter
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