Corporate Social Responsibility

The Bank has a long-standing commitment to corporate social responsibility (CSR). The Bank’s contribution to socio-economic development includes several pioneering interventions, with a focus on meeting specific goals. The activities are largely implemented directly or through the ICICI Foundation for Inclusive Growth (ICICI Foundation).

1. Composition of the CSR Committee:

Director	Directorship	CSR Committee
Mr. Girish Chandra Chaturvedi	Non-Executive (part-time) Chairman	Chairman
Mr. Radhakrishnan Nair	Independent Director	Member
Ms. Vibha Paul Rishi	Independent Director	Member
Mr. Uday Chitale	Independent Director	Member
Mr. Rakesh Jha	Executive Director	Member

2. CSR Policy

The CSR Policy of the Bank sets the framework guiding the Bank’s CSR activities. It outlines the governance structure, operating framework, monitoring mechanism and principles for selecting CSR activities. The CSR Policy pertains to all activities undertaken by the Bank towards fulfilling its corporate social responsibility objectives. The CSR Committee formulates and recommends to the Board the CSR Policy and any amendments thereto, and ensures compliance with the CSR Policy. The Bank’s CSR activities are largely focused in the areas of education, health, skill development and sustainable livelihoods, environmental projects, rural development and any other activities that are conforming to Schedule VII of the Companies Act, 2013.

The CSR Policy was initially approved by the CSR Committee in July 2014. The CSR Policy was last revised in April 2021. Web-link to the Bank’s CSR policy: https://www.icicibank.com/managed-assets/docs/about-us/ICICI-Bank-CSR-Policy.pdf

3. Projects approved under the CSR Plan

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Focus Areas	Project/Programme
COVID-19 relief activities	Contribution to PM CARES Fund and other Covid-19 relief efforts undertaken directly and along with ICICI Foundation
Skill development, Rural livelihood, and Social & Environmental projects	Activities of ICICI Foundation for Inclusive Growth
Rural development and related activities	Promoting financial inclusion and digitisation of activities in rural areas
Donations and grants	Disaster relief, promoting healthcare, education, or other activities under Schedule VII of Companies Act, 2013
Others	Support activities in areas like disaster relief, environmental and social awareness, promoting healthcare and sanitation, making available drinking water, empowering women, supporting economically backward groups

CSR Activities	Details
Covid-19 relief activities	Covid-19 relief efforts undertaken directly and along with ICICI Foundation
Urban Livelihood, Rural Livelihood and Social & Environmental Projects	Activities to be implemented through ICICI Foundation for Inclusive Growth
Rural Development and related activities	Promoting financial inclusion and digitisation of activities in rural areas
Social Awareness	Creating public awareness around themes like environmental sustainability, health, education, safety, gender equality etc.
Education, healthcare, empowering economically backward groups	Activities qualifying under Schedule VII of Companies Act, 2013 in areas like education, sanitation, healthcare, supporting economically backward groups, and sports
Disaster management & others including donations	Contributions to be made in case of emergencies and need based financial support

CSR Activities	Details
Urban livelihood	Skill development undertaken through the ICICI Academy for Skills
Rural livelihood	Projects for strengthening/developing value chain in locally relevant commodities/activities for sustainable livelihood of villagers
Environmental projects	Activities in the areas of environment conservation and ecology protection which includes rainwater harvesting, watershed development, plantation, forest conservation, promoting use of renewable energy, waste management
Social projects	Activities for the benefit of communities including healthcare, sanitation, promoting sports, education, restoration of heritage sites and other activities
Rural development and related activities	Promoting financial inclusion and digitisation of activities in rural areas
Social awareness	Creating public awareness around themes like environmental sustainability, health, education, safety, gender equality etc
Disaster management & others	For emergencies and need based financial support

CSR Activities	Broad areas
Healthcare & Sanitation	Projects aimed at providing affordable and accessible healthcare. Key focus areas include supporting healthcare infrastructure, access to healthcare, providing medical equipment, toilet and drinking water facilities
Environment & Ecology	Initiatives in the areas of environmental conservation and ecology protection. Key focus areas include forest conservation, watershed development, rain water harvesting, promoting use of renewable energy, tree plantation, and adoption of other green practices in villages
Livelihood	Activities for promoting sustainable livelihood through value chain development projects and skilling.
Social Interventions	Projects centred on the benefit of communities across various areas such as education, sports, entrepreneurship, among others. Key areas include measures for the benefit of armed forces, promoting education, heritage restoration, relief efforts during disasters and natural calamities, supporting villages in remote areas, and low cost bridges in Himalayan Belt
Other areas	Creating public awareness around social and environmental themes, responding to emergencies and other need based financial support

4. Impact Assessment

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In fiscal 2021, impact assessment for three major CSR activities were undertaken. These include skill development initiative under the ICICI Academy for Skills conducted through the ICICI Foundation, and the rural development and social awareness programme, implemented directly by the Bank.

Below are the impact assessment reports:

In fiscal 2022, impact assessment for seven major CSR activities were undertaken. These include skill development initiative under the ICICI Academy for Skills and dialysis project, conducted through the ICICI Foundation, and the financial inclusion programme, social awareness programme, KREA University support, community hall project and support towards creating digital classrooms in Bihar, which were implemented directly by the Bank.

Below are the impact assessment reports:

The Bank conducted impact assessment through external agencies of eight projects in fiscal 2023. Of these, six projects were implemented through the ICICI Foundation and two projects were directly implemented by the Bank.These include dialysis machines provided to hospitals, funds provided for surgeries/procedures to Sri Sathya Sai Hospital, livelihood project through e-rickshaws distribution, ASHA worker programme, Education project ‘Prabal Super-50’ and Project ‘Connectivity through bridge’ conducted through the ICICI Foundation and financial inclusion programme and the social awareness programme directly implemented by the Bank.

Below are the impact assessment reports:

ICICI Foundation for Inclusive Growth

The ICICI Foundation was set up in 2008 to further strengthen the Group’s legacy of promoting inclusive growth. ICICI Foundation focuses on high impact projects that are sustainable. To view the activities of ICICI Foundation, click here.