IOB Disburses Rs202.65 Crore to SHGs and Farmers at Outreach Programme in Tamil Nadu

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The mega credit event in Thanjavur benefitted over 2,600 participants from SHGs and the farming community across five districts.

Thanjavur I Economy India: In a significant push to expand credit access in rural Tamil Nadu, Indian Overseas Bank (IOB) has disbursed loans totaling Rs202.65 crore to 2,634 beneficiaries under a mega outreach programme focused on Self-Help Groups (SHGs) and farmers.

The event, held in Thanjavur on Saturday, witnessed participation from members of SHGs and agricultural communities across Tiruchirappalli, Nagapattinam, Dindigul, Madurai, and Thanjavur districts.

Empowering Rural Economies

The outreach programme is part of IOB’s ongoing initiative to boost rural financial inclusion through direct engagement with communities, combining credit access with capacity-building services.

Speaking at the event, Ajay Kumar Srivastava, Managing Director and CEO of IOB, stated:

“Our support to Self-Help Groups goes beyond credit. We are committed to offering financial literacy, skill training, digital inclusion, and long-term handholding to ensure sustainable empowerment.”

The disbursement included a variety of loans, such as:

Loan Category	Amount Disbursed
SHG Loans	₹132.45 crore
Agriculture & Allied Loans	₹53.80 crore
MSME & Others	₹16.40 crore
Total	₹202.65 crore

Participation Across Sectors

The beneficiaries represented a wide socio-economic spectrum, including:

• Women-led Self-Help Groups engaged in small-scale manufacturing, food processing, tailoring, and micro-retail.
• Farmers seeking credit for crop cultivation, irrigation equipment, and agri-allied services.
• NGO representatives working on rural entrepreneurship and women empowerment.
• Local officials from NABARD, district administration, and IOB field branches.

Financial Inclusion and Sustainability

IOB officials emphasized that the outreach initiative aligns with national goals of financial inclusion, women-led development, and doubling farmers’ income. The bank also facilitated on-the-spot account openings, Aadhaar seeding, and digital payment workshops for attendees.

Long-Term Support Strategy

Under its rural outreach strategy, IOB aims to:

• Expand SHG-bank linkage programmes in southern and eastern India.
• Promote digital onboarding of SHGs through mobile banking tools.
• Integrate SHGs and farmers with government subsidy schemes like PMEGP, PM-KISAN, and MUDRA.

IOB’s CEO added that this model of engagement would be replicated in other states to build a resilient and self-reliant rural economy.

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The success of IOB’s Thanjavur outreach reinforces the growing importance of micro-credit and inclusive banking in India’s economic roadmap. With ₹202.65 crore sanctioned in a single event, the bank has not only provided capital but also confidence to thousands of rural entrepreneurs and farmers.

As public sector banks deepen their footprint in underserved regions, such grassroots-level interventions will remain key to achieving inclusive and equitable economic growth.

(Economy India)

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