Thanjavur, Tamil Nadu: In a major rural outreach initiative, Indian Overseas Bank (IOB) has disbursed ₹202.65 crore in loans to 2,634 beneficiaries, comprising Self-Help Group (SHG) members and farmers across five districts of Tamil Nadu.
The loan distribution was carried out during a mega SHG and agriculture outreach programme hosted in Thanjavur on Saturday. Participants included individuals and representatives from SHGs, farming communities, NGOs, and local development agencies from Tiruchirappalli, Madurai, Dindigul, Nagapattinam, and Thanjavur.
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Empowering Beyond Credit
Speaking at the event, IOB MD & CEO Ajay Kumar Srivastava said:
“Our support to SHGs extends beyond lending—we focus on financial literacy, skill development, and digital inclusion to ensure long-term sustainability.”
He emphasized that the initiative reflects the bank’s vision for inclusive growth, women’s empowerment, and agricultural transformation—key pillars of India’s rural development strategy.
Ground-Level Engagement
The event also served as an interactive platform, allowing beneficiaries to engage directly with bank officials, clear doubts, and explore further opportunities for growth under various financial schemes.
This hands-on approach is part of IOB’s ongoing effort to expand formal credit access and promote trust-based banking relationships in rural areas.
Strengthening SHG Ecosystem
This disbursal complements broader national goals under programs like DAY-NRLM and aligns with IOB’s rural banking mandate. By targeting women-led groups and small-scale farmers, the bank continues to support grassroots entrepreneurship and agricultural livelihoods.
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About IOB
Indian Overseas Bank is an Indian public sector bank based in Chennai. It was founded in February 1937 by M. Ct. M. Chidambaram Chettiar, and was one of the 14 major banks taken over by the government of India during the nationalisation in 1969.
