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2013-04-08

Indian bank gets National Excellence award in micro enterprises lending

Chennai-headquarted Indian Bank has been conferred with the National Award for Excellence in Lending to Micro Enterprises by Ministry of micro, small and medium enterprises (MSME) for fiscal year 2012.

Chennai-headquarted Indian Bank has been conferred with the National Award for Excellence in Lending to Micro Enterprises by Ministry of micro, small and medium enterprises (MSME) for fiscal year 2012.

T M Bhasin, Chairman and Managing Director, Indian Bank received the coveted National award from the President of India, Pranab Mukherjee recently in the capital.

According to a release issued by the bank, under lending to the micro and small enterprises (MSEs), Indian Bank has achieved a growth of 32.18 per cent as against the government’s guideline of 20 per cent. Under MSME sector, the Bank has recorded a growth of 29.73 per cent during the year.

Indian Bank has extended 72.36 per cent credit to Micro enterprises as against the government’s stipulation of 60 per cent under MSE lending to micro enterprises, the release added.

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