Indian Bank has been conferred with the Skoch Financial Inclusion Award 2011 for “SHG Initiatives – Urban Financial Inclusion”. According to a release, T. M. Bhasin, Chairman and Managing Director, Indian Bank has received the award from K. C. Chakrabarty, Deputy Governor, Reserve Bank of India in recognition of the services rendered by Indian Bank for the underprivileged and unbanked. Indian Bank has set up 32 exclusive Micro Finance Branches for financing SHGs.