ICICI Bank

Author: Markson, Todd; Hokenson, Michael; Prahalad, C.K.
Publication Date: 2003
Publisher / Source: University of Michigan Business School
Length: 25 Pages
File Type: PDF
Language: English
Country: India
Topics: Business Models, Innovation, Technology
Keywords: ATMs, internet kiosks, SmartCards, technology, self help groups, innovation, efficiency, commercial banks

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Abstract

As the second-largest bank in India, ICICI Bank has led multiple initiatives to provide banking services at an affordable cost to the poor. ICICI has partnered with others to co-locate ATMs with rural Internet kiosks, and explore SmartCard technology to provide secure, low-cost transactions and loan management. More importantly, ICICI Bank has created a network of eight thousand Self Help Groups, each with twenty women, to serve as the vehicle for creating successful, micro-financed businesses. In the process, ICICI Bank has given these women the means to transform their social and economic lives, their families, and their villages.