As part of our financial inclusion efforts, we have opened over 2.1 crore Basic Savings Bank Deposit Accounts (BSBDA) till March 31, 2020, the largest number of accounts opened by a private sector bank in India. Of these, around 47 lakh accounts were opened under the Pradhan Mantri Jan Dhan Yojana. We actively encourage and enable these account holders to transact digitally.

At ICICI Bank, we are also committed to promote government schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana for providing life insurance, Pradhan Mantri Suraksha Bima Yojana for providing accident insurance and Atal Pension Yojana for providing pension benefits. Till March 31, 2020, a total of 49 lakh customers have been enrolled under these three Jan Suraksha Yojana (JSY) schemes.

The Bank has also been enabling direct transfer of benefits from government schemes to the beneficiaries in rural areas. In fiscal 2020, over ₹1,036 crore was transferred to beneficiaries under these schemes. The Bank also facilitated the transfer of over ₹253 crore to beneficiaries under the Pradhan Mantri Garib Kalyan Yojana in the last few months.

ICICI Bank has a well-defined Financial Literacy Plan (FLP) to address all sections of society. The Bank is especially focussed on imparting financial education and creating awareness in unbanked and underbanked areas. The comprehensive financial literacy modules are disseminated both through in-person camps and classroom sessions, and through digital and other remote channels. Our literacy material and financial collateral is adapted into local Indian languages and multiple media formats to achieve maximum impact.

Our financial literacy efforts also encompass investor education and digital awareness efforts to benefit large sections of customers. In fiscal 2020, the Bank signed an MoU with Investor Education and Protection Fund Authority (IEPFA), Ministry of Corporate Affairs for spreading investor awareness through our vast network of branches and digital channels.