Chennai: Private sector ICICI Bank claims to have supported 17 lakh less privileged women in the southern state of Tamil Nadu through its SHG-Bank Linkage intiaitative.
The SBLP or Self Help Group-Bank Linkage Programme aims at empowering women to become self-reliant.
The SBLP focuses on delivering financial products and services to the section of rural people who lack access to formal banking.
The bank said it has extended loans worth about Rs 4,300 crore to over 1.3 lakh SHGs since its inception in 2011 and intends to exapand the loan disbursements to over Rs 7,000 crore among 25 lakh beneficiaries by end of March 2020.
The ICICI Bank has been awarded the first prize among private banks by NABARD for ‘Excellence in Performance’ under SBLP in Tamil Nadu for the third consecutive year.
The bank facilitates door step banking services for SHGs. The bank representatives submit the loan applications and the details of the SHG digitally, which significantly reduces the turn-around time and also the transaction cost for the customers’.
ICICI Bank is India’s largest private sector bank by consolidated assets.