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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:

DirectorDirectorshipCSR Committee
Mr. Radhakrishnan Nair Independent Director Chairman
Ms. Rama Bijapurkar Independent Director Member
Mr. Uday Chitale Independent Director Member
Mr. Anup Bagchi 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 CSR activities that would be undertaken. The CSR Committee is the governing body that articulates the scope of CSR activities and ensures compliance with the CSR policy. The Bank’s CSR activities are largely focused in the areas of education, health, skill development and financial inclusion and other activities like disaster relief or as the CSR Committee may choose to select in fulfilling the CSR objectives.

The CSR policy was approved by the Committee in July 2014, and subsequently was put up on the Bank’s website. 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 for fiscal year 2020-21

Focus AreasProject/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

 

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.

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