ICICI Bank crosses milestone of supporting 17 lakh women beneficiaries in Tamil Nadu through its Self Help Group – Bank Linkage (SBLP) programme

Chennai: ICICI Bank, India’s largest private sector bank by consolidated assets, announced today that it has crossed a milestone of supporting 17 lakh women beneficiaries through the ‘Self Help Group-Bank Linkage Programme’ (SBLP) which aims at empowering less privileged women in the state to become self-reliant. The programme focuses on delivering financial products & services to the section of rural people who lack access to formal banking. As part of the programme, the Bank has extended loans nearly worth Rs 4,300 crore to over 1.3 lakh SHGs since its inception in 2011, making it the largest private sector lender to SHGs in the state.

As recognition of the Bank’s continued efforts under SBLP, it has been awarded the first prize among ‘Private Sector Commercial Banks’ by NABARD for ‘Excellence in Performance’ under SBLP in Tamil Nadu for the third consecutive year.

Speaking on the occasion, Mr. Avijit Saha, Senior General Manager & Head, Rural & Inclusive Banking Group, ICICI Bank, said, “We at ICICI Bank believe that women are the backbone of every household. In Tamil Nadu, women residing in rural & semi-urban locations have showcased an inspirational entrepreneurial spirit. This reaffirms our belief that access to financial assistance from the Bank will aid them in actively participating in the economic development of the country and achieving financial security. We would focus on SHGs whose members are engaged in livelihood generating activities - be it on the farm or off the farm – and thereby provide financial assistance in scaling up their economic enterprises. I am delighted to share that the Bank, through its work with SHGs, has touched the families of over 17 lakh women beneficiaries and has disbursed loans of over Rs 4,300 crore till date. The Bank is a pioneer in introducing doorstep banking to SHGs, wherein our officials reach out to customers at their doorstep, instead of the customer approaching the bank’s branches. This reduces the transaction cost for the customer, as she does not have to incur any cost in travelling to the nearest branch of the Bank. By the end of FY’20, the Bank intends to expand its reach to over 25 lakh women beneficiaries with cumulative loan disbursements worth more than Rs 7000 crore”