Promoting Financial Inclusion

ICICI Bank is committed to be a financially inclusive organisation in India. We undertake various efforts to reach out to the customers in rural areas. Cumulatively, we have opened 21 million Basic Savings Bank Deposit Accounts (BSBDA), the largest number by a private sector bank in India. Of these, around 4.7 million accounts were opened under the Pradhan Mantri Jan Dhan Yojana. This has been made possible through a network of branches and Business Correspondents (BCs), and by offering digital solutions for payments and transactions. We also hand-hold and encourage our account holders to transact digitally.

As part of our continuing financial inclusion efforts, we have promoted government schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana for providing life insurance, Pradhan Mantri Suraksha Bima Yojana for accident insurance and Atal Pension Yojana for pension benefits. So far, a total of 5 million customers have been enrolled under these three social security schemes, the highest among private sector banks.

ICICI Bank has a well-defined Financial Literacy Plan to spread awareness and inculcate the habit of financial savings among rural customers. The Bank is especially focussed on imparting financial education and creating awareness of banking services in the unbanked and underbanked areas of the country.