Indian Bank sanctions ₹1,220 Cr in retail, Agriculture and MSME loans

Chennai, August 13:

Indian Bank has sanctioned loans totalling ₹1,220 crore across the retail, agriculture and micro, small and medium enterprises (MSME) segments during a major customer outreach programme held in Mumbai.

The Mega Disbursement and Customer Outreach Camp covered the bank’s operations in Maharashtra, Gujarat and Goa. It was organised as part of the fortnight-long celebrations marking Indian Bank’s 120th Foundation Day.

Indian Bank Managing Director and Chief Executive Officer Binod Kumar inaugurated the programme and presented sanction letters to beneficiaries.

Of the total amount sanctioned, ₹615 crore—more than half—was allocated to the MSME sector. The bank said the substantial allocation demonstrated its commitment to supporting entrepreneurs and strengthening small and medium businesses.

Addressing the event, Kumar said timely and adequate access to credit was essential for individuals, farmers and entrepreneurs to realise their aspirations. Retail, agriculture and MSME activities were important drivers of employment, entrepreneurship and inclusive economic growth, he said.

The bank would continue to introduce customer-focused financial solutions and improve service delivery across these segments, he added.

The outreach initiative forms part of Indian Bank’s strategy to expand its presence in the retail, agriculture and MSME sectors. The bank said it was working to promote inclusive growth by improving access to institutional credit and supporting the financial requirements of individuals, farmers and businesses.

Indian Bank has also undertaken several corporate social responsibility initiatives across the country in connection with its Foundation Day celebrations. It donated computers, laptops and essential infrastructure to the Victoria Memorial School for the Blind in Mumbai.

In Kerala, the bank extended financial assistance to the Cochin University of Science and Technology for the development of sporting activities. Indian Bank Executive Director Mini T.M. presented the assistance on behalf of the bank.