Indian Bank sings memorandum of understanding with the Welfare Association of Women Entrepreneurs to provide credit
CHENNAI Indian bank has signed a Mou with the Welfare Association of Women Entrepreneurs ( WEWA ), Tamil Nadu , to offer training and credit linking to women members/entrepreneurs of the association to establish businesses.
The bank, which has dedicated products especially designed for women customers, said WEWA members would get support for loans at special discounted rates.
Padmaja Chunduru, MD and CEO, said: “Financial independence is very important for women and more girls should be encouraged to take their business skills. It will help aspiring and enthusiastic women by training them at INDSETI, institutes specially established to impart the necessary skills in the chosen activity.
He said that today's women are capable of taking up any profession, such as computer training and car repair, etc., which are mostly persecuted by men.
The bank emphasizes that WEWA should facilitate prompt repayment by their members.
WEWA aims at adding 1,000 members by 2023 and requested the bank to provide the skill training to their members as per the interest and choice of the members.