Tamil Nadu - Dindigul   

Bank to open 100 microsate branches to cater to SHGs

— PHOTO: G. KARTHIKEYAN

Aid:Collector K. Nagarajan disburses micro credit to self help group members in Dindigul on Wednesday.

DINDIGUL: The Indian Bank has plans to open 100 microsate branches in the State to offer all services exclusively to Self Help Groups, said Selvam Veeraraghavan, General Manager, Indian Bank.

He was presiding over the inauguration of microset branch, first of its kind in Dindigul, third in Madurai and 40th in the country here on Wednesday.

Already, similar branches have been functioning in Madurai and Usilampatti. It will act as an exclusive branch for SHGs. The SHGs could avail all services and operate their accounts and do transactions through this branch. All SHG accounts with the Indian Bank main branch and Nehruji Nagar branch will be transferred to the new branch.

The biometric ATM was the first one in Dindigul, seventh in Madurai circle and 85th in the country. Indian Bank has set the model on SHG development. Other banks too should open similar branches to help SHGs. It should have multiplier effect, he added. The bank had disbursed Rs. 1,800 crore to 1.8 lakh SHGs so far.

Sufficient space had been provided in the branch to display SHG products. Such measure would enthuse other group members to make new and innovative products, he added.

Branch Manager K. Sukanya said this branch would offer services including savings, loan and other regular banking services. Others cannot operate accounts in this branch. Madurai Manager Raja said that finger prints of right and left thumb and right index finger of each account holder had been recorded in the machine. They may also use PIN number to draw money through ATM.

Collector K. Nagarajan inaugurated the ATM and disbursed micro credit of Rs.80 lakh to 30 SHGs.

Indian Bank Deputy General Manager N.P. Rajan and Assistant General Manager S. Anantharaman took part.

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