Public sector lender Indian Overseas Bank has introduced a new scheme to cater mainly to the segment of fisherwomen in the south. The scheme is called 'IOB-Sagar Lakshmi'.

The scheme was inaugurated by CMD of the bank, Mr M Narendra in Kulai village in Mangalore, said a press release.

As per the scheme, fisherwomen would be given out financial aid for processes like selling of fresh/dry fish, fish processing, fish storage, and so on.

Maximum permissible loan limit is Rs 10 lakh.