OREANDA-NEWS. Indian Bank has attained the first rank and has been conferred with the National Award for Excellence in Lending to Micro Enterprises for FY 2012.

Shri T M Bhasin, Chairman and Managing Director, has received the coveted National award from the august hands of Hon’ble President of India, Shri Pranab Mukherjee on 03rd April 2013 at Vigyan Bhawan, New Delhi.

The Bank has far exceeded the stipulated 40 percent target and has reached 36,641 crore (42.35%) lending to Priority Sector as on 31st March 2013.

Under lending to the Micro and Small Enterprises, Indian Bank has achieved a growth of 32.18 per cent as against the GOI’s guideline of 20 per cent.

Under Micro, Small and Medium Enterprises sector, the Bank has recorded a growth of 29.73 per cent during the year.

Indian Bank has extended 72.36 per cent credit to Micro enterprises as against the GOI’s stipulation of 60 per cent under MSE lending to Micro enterprises.