IDBI Bank extends finance to Micro Enterprises, Minority Communities and Weaker Sections under Financial Inclusion

Shri Kishor Kharat, MD & CEO, IDBI Bank, inaugurating a Micro Enterprise named “Rio Unisex Salon” at Ivy Estate Wagholi, Pune. Also seen in the picture is proprietor Mr. Mohamad Yusuf Shaikh (extreme left).

Mumbai, 13 January 2016: IDBI Bank has been extending finance to Micro Enterprises, Minority Communities and Weaker Sections of the society in its endeavor to promote the spirit of entrepreneurship and support financial inclusion. As a sign of support, Shri Kishor Kharat, MD & CEO, inaugurated a Salon Shop financed by IDBI Bank’s Wagholi Branch, at Ivy Botanica, Ivy Estate Wagholi, Pune. The Bank has extended finance of Rs.28 Lakh under ‘Micro Enterprises’ category to the unit named “Rio Unisex Salon” run by proprietor Mr. Mohamad Yusuf Shaikh.

IDBI Bank has schemes for wholesale and retail traders, manufacturers, professionals & self-employed, medical practitioners and vendors of large and medium corporate. The Bank has activated BC/BF channel to provide door step banking services in the remote locations as part of its Financial Inclusion initiative and has been taking various initiatives in providing hassle free loans to our target clients by conducting mega camps, regional level campaigns etc. IDBI Bank also offers loans to micro enterprises (with investment in plant and machinery less than Rs.10 Lakh for service enterprises and less than Rs.25 Lakh for manufacturing enterprises) at very competitive rates.