Public sector lender, Corporation Bank has set up a microfinance branch in Hyderabad. The branch has also been facilitated with an onsite ATM.
The main motive with which the branch has been opened has been cited to be the aid of the weaker sections with emphasis on women as part of financial inclusion, said the bank.
The branch will offer loans to self help groups (SHGs), NGOs and MFIs.
With the branch in Hyderabad, the total microfinance branch count of the bank has reached four.
The branch was inaugurated by Mr M. M. Pallam Raju, Union Minister of State for Defence.
Mr Ashwani Kumar, Executive Director of the bank, presided over the function.