'Microstate' to give Rs 114.50-cr to SGHs

Indian Bank's specialised branch called 'Microstate' expects to extend credit assistance of Rs 114.50 crore to 4,350 self help groups (SHGs) in the next three years.

An Indian Bank press statement said that to commemorate the 'International year of Micro Credit 2005', Microstate branch which will cater to the micro credit requirements of self help groups, non governmental organisations and micro finance institutions. The branch disbursed Rs 6.67 crore to SHGs.