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ICICI Academy for Skills inaugurates its first centre in Mumbai

January 06, 2016

  • ICICI Foundation will provide vocational training to over 1 lakh youth by FY17
  • ICICI Academy launches ‘GiftALivelihood’, a nationwide referral programme

Mumbai: ICICI Academy for Skills (ICICI Academy), an arm of ICICI Foundation for Inclusive Growth, today launched its first centre in Mumbai to provide vocational training to the youth from economically weaker sections to help them earn a sustainable livelihood. Honourable Chief Minister of Maharashtra Shri Devendra Fadnavis inaugurated the centre.


The centre will offer courses in five disciplines, namely electrical & home appliance repair, refrigeration & AC repair, two & three wheeler service technician, selling skills and office administration. ICICI Academy has tied up with various industry leaders who as ‘Knowledge Partners’ help in co-creating the course curricula and content, setting up practical training laboratories and training of trainers. It has also tied up with industry partners to provide employment opportunities to the trained youth. The curricula of these courses consist of industry relevant vocational training and also life skills such as communication and financial literacy. The duration of the training is 12 weeks. One has to pass at least standard VIII and be between 18 and 30 years of age to become eligible for these courses.


Ms. Chanda Kochhar, MD & CEO, ICICI Bank said: “We recognized skill development as an important area of focus as part of our efforts in the nation’s socio-economic development. Bridging the critical gap between manpower availability and employability is important to provide sustainable livelihood opportunities for all to grow and prosper.


With this focus, emerged the idea of setting up skill training centres across the country, and the launch of ICICI Academy for Skills in October 2013. We took a holistic approach in our efforts and are ensuring not just job-oriented training which is provided free of cost to the underprivileged youth, but also helping the trained youth to find employment through our linkage with industry. We have significantly scaled-up our training capabilities over the years, and through the centres are providing practical training in 13 technical and office skills to the youth. Today, through ICICI Academy and our Rural Self Employment Training Institutes (RSETIs), we have the capacity to train 45,000 youth annually. I am proud to say that by March 2017, we aim to achieve a milestone of training one lakh youth.”


Ms. Kochhar also launched a referral programme, GiftALivelihood, for sourcing deserving candidates for ICICI Academy. Under this programme, people can refer deserving candidates to ICICI Academy through and help them get a training so that they can earn a sustainable livelihood and lead a life of dignity. Post referral, ICICI Academy will enroll all eligible and suitable candidates for its courses, which are provided free. At the end of the training, ICICI Academy will also facilitate employment.


By March this year, 36,000 students would have passed out of ICICI Academy which came into being in 2013 with 100% of the trained youth securing jobs with various organisations including reputed corporates like Bluechip Corporate Investment Centre Limited, Infinity Retail (Croma), Eureka Forbes, Minda Furukawa Electric Pvt Ltd, Café Coffee Day, Janalakshmi Financial services Pvt Ltd, leading private banks and insurance companies.


The Rural Self Employment Training Institutes (RSETIs) would have trained over 25,000 rural underprivileged youth by March this year in the districts of Jodhpur and Udaipur in Rajasthan. These centres impart training in skills required for the local economy (currently 21 trades) and also facilitate self-employment and employment for the trained youth.


In FY17, ICICI Academy and RSETIs will train nearly 45,000 youth, taking the total number of trained youth to over 1 lakh.


With the launch of the Mumbai centre, ICICI Academy has 22 centres across the country including a few exclusively for the women trainees. Six of these centres are residential. The Mumbai centre is the fourth training centre in Maharashtra—the other three are at Narsobawadi, Pune and Nagpur. In addition to training, ICICI Academy provides uniforms, meals and all relevant course material to the trainees. Women comprise about a third of the trainees.


Key highlights of the Mumbai centre:

  • The centre will offer courses in five disciplines: electrical & home appliance repair, refrigeration & AC repair, two & three wheeler service technician, selling skills and office administration.
  • ICICI Academy has tied up with industry leaders who as ‘Knowledge Partners’ create content, set up practical training laboratories and train the trainers. The ‘Knowledge Partners’ for Mumbai Centre are:
    • Schneider Electric India Foundation for electrical & home appliance repair
    • Blue Star Ltd. for refrigeration & AC repair
    • TVS Training & Services Ltd. for two & three wheeler service technician
    • Tally Solutions Pvt. Ltd. for office administration
  • The curricula and training for the ‘selling skills’ course is provided in-house
  • The curricula consist of 12 weeks free industry relevant vocational training courses, and life skills such as communication and financial literacy
  • The eligibility: Underprivileged students in the age group of 18 to 30 years and have passed standard VIII



About ICICI Foundation For Inclusive Growth (ICICI Foundation): It was founded by the ICICI Group in early 2008, with a view to carry forward and build upon ICICI Group's legacy of promoting inclusive growth. ICICI Foundation seeks to promote inclusive growth in India by contributing to the key enablers required for widespread participation in economic opportunities in the country. Through focused initiatives in the identified areas including primary healthcare, elementary education, skill development and sustainable livelihood and financial inclusion, ICICI Foundation is working towards building capabilities and developing innovative models that can be replicated and scaled up in future. ICICI Academy for Skills operates under the aegis of ICICI Foundation.


Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.


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