Chief Minister V Vaithilingam on Thursday lauded the initiatives of the Indian Bank in economic empowerment of women by assisting all-women Self Help groups to promote self employment projects in the Union Territory.
Declaring open a branch of Indian Bank in Madagadipet, a remote village in Puducherry and also commissioning biometric ATM, he said the bank had successfully launched under a pilot project its financial inclusion scheme in 2005 to achieve cent percent coverage of people under bank accounts.
This initiative had been totally successful, he said. The biometric ATM would enable illiterate people to operate accounts and also to withdraw money as and when they required.
Beneficiaries of National Rural Employment Guarantee Scheme could now withdraw their wages through the biometric ATM facility, he said.
Bank Chairman and Managing Director M S Sundararajan said Indian Bank had so far provided Rs 2,000 crores as educational loans, benefitting 1.5 lakh students across the country.
Similarly 1.75 lakh self-help groups had been provided loan totalling Rs 1,400 crores over the years.