ICICI Bank 2012 Annual Report Download - page 209

Annual Report 2011-2012 P7
The Foundation and its partners focused on
establishing the VSRC to train and support
Sahiyyas. It also worked closely with the
government to standardise the training and
develop supportive supervision for Sahiyyas.
To date, 40,964 Sahiyyas have been trained with
new training material.
4. Financial Inclusion
ICICI Foundation facilitates financial inclusion by
supporting the development of new models for
delivering financial services. In addition to the
ICICI Group’s direct work in the area of financial
inclusion, ICICI Foundation partners with ICICI
Group companies to provide greater access to
and create awareness of finance in communities
where it has established health and education
programmes.
ICICI Bank and its subsidiaries undertake extensive
direct initiatives in the area of financial inclusion.
During the year, ICICI Bank has partnered with
Unique Identification Authority of India (UIDAI) for
routing government benefits to below poverty line
(BPL) individuals using the UIDAI/Aadhaar platform
on an end-to-end basis. The Bank continued to
focus on improving its product and service offerings
to meet the requirements of all participants in the
rural and semi urban areas including farmers, small
processors and other medium agri-corporates.
The Bank is also rolling out branches in rural
areas to support the achievement of its financial
inclusion objectives. These branches will support
the Business Correspondent (BC) network in
providing quality banking services to the unbanked
and underbanked population. (For addition details
on ICICI Bank’s Rural & Inclusive Banking Group,
please refer to the “Business Overview” section.)
ICICI Prudential Life Insurance Company (ICICI
Life) has successfully undertaken financial
inclusion through distribution of its micro
insurance product Sarva Jana Suraksha (SJS).
The micro insurance product was distributed to
more then 320,000 rural customers spread across
eight states. SJS is a retail term product where
the sum assured ranges from ` 5,000 to ` 50,000.
The product is distributed through a network
of 58 partners comprising of micro finance
institutions, non governmental organisations,
primary agriculture cooperative societies and
cooperative banks.
ICICI General has provided insurance solutions
under government schemes. Under the Rashtriya
Swasthya Bima Yojana (RSBY), ICICI General has
covered over 14.6 million families in 145 districts
across seven states and Union Territories. About
1.8 million lives were also covered under a health
insurance scheme for handloom weavers and
ancillary workers. ICICI General has pioneered
weather based crop insurance in India, and this
has been successfully adopted in 11 states,
encompassing 3 million farmers.
5. Other initiatives
a) ICICI Fellows
The Foundation’s ICICI Fellows programme is a
pioneering leadership programme that nurtures
young talent to create a cadre of socially responsible
leaders for India. It focuses on developing the
Fellows’ leadership potential through perspective
building and experiential learning. The Fellows
work on grassroots development projects with
NGOs, interspersed with residential learning
modules on management training and leadership
development. The entire experience is designed
to expand the Fellows’ knowledge, insight and
commitment to inclusive growth.
The Foundation is currently in the process of
selecting its Third Batch of ICICI Fellows. While
the first batch will graduate in June 2012,
the second batch is undergoing placements
with NGOs.
b) Employee volunteering
(i) Financial Literacy
ICICI Foundation has developed an employee
volunteering programme that allows ICICI Bank
employees to teach a comprehensive course
on financial literacy to youth from low-income
families. This free-of-cost training enables youth
to take control of their personal finances and
gives them the tools to create a better life for
themselves and their families. This training also
provides ICICI Bank employees an opportunity to
engage meaningfully within their communities.
Approximately 25 to 30 young people are