Chennai-based Indian Bank entered into a Memorandum of Understanding (MoU) with Women Entrepreneurs Welfare Association (WEWA), Tamil Nadu, on January 4th. The MoU will allow it to offer specialised training and credit linkage to the female members or entrepreneurs in the association, in order to help them establish their businesses.
The body said that members would also receive loan support in the form of special discounted interest rates.
MD and CEO of Indian Bank, Padmaja Chunduru, highlighted how financial independence plays a massive role in women’s lives in India. As such, there is an urgent need for women and girls in the country to be encouraged to learn new enterprise skills.
He said, ”Will help aspiring and enthusiastic women by training them in the INDSETIs, specially established institutes to impart necessary skill in chosen activity.”
The bank stated that WEWA should also ensure prompt repayment by members. The association aims to add around 1,000 members by 2023, and has hence, asked Indian Bank to provide skill training to them, according to their interests and choices.