Indian Bank has been conferred with the National Award for Excellence for leading the micro enterprises for financial year 2012. The bank was conferred the award for maintaining 40 per cent growth rate.
Zonal Manager Om Prakash Ambasht informed that TM Bhasin, Chairman and Managing Director, received the coveted National Award from President Pranab Mukharjee on April 3 at Vigyan Bhavan, New Delhi. Ambasht said that Bank has far exceeded the stipulated 40 percent target and has reached 36,641 crore (42.35) percent lending to priority sector as at end of March 2013.
Indian Bank has extended 72.36 percent credit to Micro enterprises as against the Gol's stipulation of 60 percent under MSE leading to Micro Enterprises, he added.