RBI Governor D. Subbarao recently exhorted banks to “reoccupy the last mile” in lending to small borrowers, which is now occupied by the micro-finance institutions (MFIs). What is IOB’s performance in this area?
IOB has always been a front-runner in extending micro-credit. More than 1,300 business correspondents (BCs) have been engaged by the bank. Training is being imparted to them to carry out their duties effectively. About 738 BCs have been trained until now through 36 programmes.........
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