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Corporate Social Responsibility

CSR has been a long-standing commitment of the ICICI Group (the Group) and forms an integral part of the CSR Activities undertaken by the AMC. The objective of the AMC is to pro-actively support meaningful socio-economic development in India and enable a larger number of people to participate in and benefit from India’s economic progress either directly or through implementing agency. The CSR Activities of the AMC are primarily undertaken through ICICI Foundation for Inclusive Growth (ICICI Foundation) established in 2008.

1. Composition of the CSR Committee:

Below is the composition of the CSR Committee of the AMC:

Name of DirectorMember/Chairman
Mr. Naved MasoodChairman
Ms. Preeti ReddyMember
Mr. Nimesh ShahMember

2. CSR Policy

The Corporate Social Responsibility Policy (CSR Policy) of the AMC sets out the framework guiding the Company’s CSR activities. The Policy also sets out the rules that need to be adhered to while taking up and implementing CSR activities. The AMC’s CSR activities are largely focused in the areas like skill development and sustainable livelihood, education, financial inclusion, health care, sanitation, providing support for natural calamities and disasters, etc.

The CSR Policy of the AMC is approved by the Board of Directors of the Company and is updated on the website of the AMC. Web-link to the CSR Policy of the AMC: https://rewamp.icicipruamc.com/docs/default-source/about-us/csr-policy_april-2023.pdf

3. Projects approved under the CSR Plan for financial year 2023-24

The CSR Activities of the Company are undertaken in accordance with the CSR Annual Action Plan approved by the Board of Directors of the Company for each financial year. As per the CSR Annual Action Plan for FY2024, the AMC intends to carry out its CSR activities in the areas of skill development and sustainable livelihood along with education, healthcare, eradicating hunger and malnutrition, environment and other social causes and activities for the benefit of armed forces veterans, war widows and their dependents, either directly or through ICICI Foundation. The details of the projects are given hereunder:

Focus AreaDetails of Projects
Skill development, sustainable livelihood and promoting financial literacy

ICICI Foundation, through its ICICI Academy for Skills or through any other mode, undertakes skill development. The ICICI Academy for Skills (ICICI Group Initiative) has been set up across the country to provide job-oriented skill training to youth and selected category of people. Several centres have been set up across the country.

As part of their skill development program, ICICI Foundation also has a program for training youth and other categories of people to become financial services entrepreneurs. Under this initiative ICICI Foundation shall provide training and skill building support to selected persons.

ICICI Foundation may also promote Financial Literacy and Financial Counselling

To view the activities undertaken by ICICI Foundation, click here (https://icicifoundation.org/ )

The Company may undertake aforesaid activities directly also.

Education, Health care, Environment and other social causes

The Company may also undertake other social and environmental projects like planting trees/afforestation, environment protection and ecological promotion including watershed activities/rain water harvesting, solar power installations, waste management, orientation programmes of socially affected/excluded groups like juveniles, inmates, elderly, etc. including setting up of small training centres at respective premises.

The Company may also provide healthcare equipments and/or infrastructure set up for hospitals and healthcare institutions, provide subsidised healthcare to underprivileged sections of the society, providing mobile vans/ambulances for improving access to healthcare, providing drinking water solutions, supporting development of kitchen gardens and supporting blood banks. The Company may undertake or support projects relating to providing education to the underprivileged children, providing nutrition to the kids, projects/initiatives for old age homes or such other facilities for senior citizens.

The Company may also provide financial and logistical support for specific needs such as during disasters/ calamities/pandemics/epidemics.

Activities for the benefit of armed forces veterans, war widows and their dependents

The Company may also undertake or support or contribute by way of contribution to Palliative Care Centers established for Serving Personnel, Paraplegic Rehabilitation Centers (PRC) organized to empower and rehabilitate ex-servicemen, Lifelong medical care and rehabilitation of the ex-servicemen and support for education of children of armed services personnel.

4. Executive summary along with web-links of Impact Assessment of CSR Projects undertaken by the AMC:

FY2023

a. Vaccine on Wheels Project

The ICICI Foundation had collaborated with Jivika Healthcare’s Vaccine On Wheels Program under which vaccines were provided to the community members free of cost, irrespective of their socio-economic status. The said program covered remote parts of Maharashtra and Jharkhand and consisted of 30 Mobile Vaccination units covering 9 districts and 850 unique villages/locations by providing 10,57,110 doses. The Project covered tribal population, daily wages, old age people, terminally ill and specially abled people. The Project also had support from the Government and was carried out through a structured process which was followed by all the relevant stakeholders.

Impact Assessment Report

b. Support for child heart surgeries

ICICI Foundation had supported 200 child heart surgeries in FY2022 at Sri Sathya Sai Sanjeevani Hospital (the Hospital). The Hospital offers free Child Heart Treatment to anyone, regardless of caste, religion, nationality, or financial situation.

The funding support from ICICI Foundation was used for the surgeries/procedures of 200 children and young adults suffering from congenital heart diseases. Of the total 200 beneficiaries, 198 were Indians which were spread across various states and the remaining 2 children were foreign residents (one each from Nepal and Bangladesh).

Impact Assessment Report

c. Financial Advisors Project

Under the Financial Entrepreneurship Program, the ICICI Foundation aims to promote sustainable entrepreneurship and financial literacy with a motive of impacting the fintech ecosystem and aspiring entrepreneurs from all over the country by fostering ideas in the sector and incubating them to assist such endeavours under their “Financial Advisors Project". The project focused on the following objectives:

• Imparting financial literacy and entrepreneurship development.
• Generation of livelihood and source of alternate income.
• Inculcate knowledge in people about mutual funds and assist them in professional training for mutual fund distribution.

The Project covered 9,455 total candidates, out of which 70% of total candidates passed the NISM exam in first attempt. 38% of surveyed candidates were female making project inclusive. 68% of total beneficiaries trained since 2020, are empaneled with the asset management companies.

Impact Assessment Report

FY2022

Urban Livelihood Initiative - ICICI Academy for Skills

With a view to strengthen employment opportunities and livelihood, the ICICI Foundation had provided skill training in technical and non-technical courses to approximately 5.2 lakh underprivileged individuals in urban and rural India. The academy's pro bono skill development training programme aims to make trainees employable, allowing them to earn a sustainable living.

Impact Assessment Report