IDBI Bank sanctions loans to SHGs

Bongaigaon, Feb 17: IDBI Bank Limited, Bongaigaon branch organized a Self Help Group (SHG) Fincing Program on Tuesday at District Library, Bongaigaon. Representatives from 112 Women SHGs from the local area, along with officials from various Government Departments and NGOs participated in the event.

Pranjal Goswami, Branch Head of Bongaigaon Branch welcomed the gathering and highlighted the features of the loans sanctioned to the SHGs by IDBI Bank. Biswajit Pegu, Deputy Commissioner, Bongaigaon District was the Chief Guest of the function, which was also attended by Ugen Tashi, General Mager, IDBI Bank and other dignitaries.

In his address, Pegu appreciated the initiative taken by IDBI Bank towards the economic betterment of the District and also praised the SHGs for their efforts and regular repayment of bank loans.

During the event, sanction letters were distributed to the representatives of 103 SHGs formed under tiol Rural Livelihood Mission and 9 SHGs formed under the NGO Seven Sisters Development Assistance. Sanctions to SHGs were as per the Memorandum of Understanding signed between NRLM and IDBI Bank in July 2015.

The Bank has 26 branches in Assam and is engaged in retail banking, agricultural loans, corporate banking, infrastructure banking etc. both for the Government as well as the private sector. This was stated in a press release.