Micro-Lending

At ICICI Bank, we have focussed on providing financial assistance to the people employed at the grassroot level in the rural economy. We recognise that there are specific segments of the rural economy that require a more supportive and sensitive response to their financial requirements. There are initiatives by the Bank to specifically address the needs of such segments. Under the Self-Help Group-Bank Linkage Programme (SBLP), we encourage the idea of entrepreneurship among underprivileged rural women and help them earn sustainable livelihoods. Self-Help Groups (SHGs) refer to homogeneous groups made by less than 20 individuals/women engaged in livelihood activities. They pool their savings and support one another in times of need.

We have cumulatively provided loans to over 8 million women beneficiaries through more than 600,000 SHGs. Through these SHGs, we have empowered millions of women to recognize their dream of financial independence. Of these, 3.6 million women were first time borrowers; they had not taken a loan from any formal financial institution so far. We also partner with Microfinance Institutions(MFIs) by extending them term loans. The MFIs, in turn, lend to their customers, helping us further our reach. In addition to our direct customers, since inception, we have reached out to about 1.3 million customers through the MFIs as on March 31, 2021.

We provide a comprehensive suite of banking products like zero-balance savings accounts and term loans for meeting the business requirements of the members of these SHGs. These services are offered at their doorstep, thus saving their time and money on visits to the branch. Additionally, we augment our effort by providing skill development training to the SHG members, under the aegis of ICICI Foundation’s Rural Livelihood Programme.

In addition to SHGs, we provide loans to Joint Liability Groups (JLGs) which are semi-formal groups belonging to weaker sections of society. We lend to these groups to supplement our direct efforts. We have tied up with about 560 non-government organisations called Self Help Promoting Institutions (SHPIs). These SHPIs are empanelled as Business Correspondents (BCs) and work towards delivering credit and other banking products.

The Bank also organises financial literacy camps and sets up dedicated service desks at select branches to guide the SHG members on banking procedures. Our continuous efforts have led to a progressive rise in entrepreneurial ventures by women in the areas where we operate.

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Success Story

From despair to successful entrepreneurs - Lace Artisans SHG

We had made use of a microfinancing scheme available to us to set up a farming business. However, the loan we procured was provided at a higher rate of interest.

From daily wage labourers to entrepreneurs - Sree Mahavishnu Kudumbashree

We were in despair due to lack of income generating opportunities. Some of our members had become dependent on the MNREGA scheme to get daily wage livelihood.