ICICI Bank opens ICICI Academy for Skills as part of CSR

Vocational training course by the academy will provide sustainable livelihood opportunities to the beneficiaries

As part of its Corporate Social Responsibility (CSR) efforts, ICICI Bank today opened skill training academy to provide vocational training to youth from economically weaker section of the society.

The vocational training course will provide sustainable livelihood opportunities to the beneficiaries, ICICI Bank Managing Director and Chief Executive Chanda Kochhar said here.

"The launch marks the next step in our strategy to promote inclusive growth in India, will train 5,000 youth at nine training centres across the country in the first year of operation,"  she said, adding, the academy aims to train 15,000 youth across the country by 2016.

She said, the bank is already close to the target of spending two per cent of average profits on activities relating to corporate social responsibility that has been mandated in the new Companies' law.

"We are very close to this target as we have been expanding to new initiatives over time. The formal reporting on the per cent of profit used for CSR would be started from next year," she said.

Apart from Jaipur, Kochhar said, the skill development centres would be set up in Coimbatore, Chennai, Hyderabad, etc through the ICICI Foundation.

The bank is setting up residential centres in Jaipur, Sangli and Coimbatore and non-residential centres in Bangalore, Chennai, Hyderabad, Jaipur and Pune. The bank is also exploring the possibility of a centre in eastern India, she said.

The courses offered will include selling skills, office administration and web design for graduates; and electrical & home appliance repair, refrigeration & air-conditioning repair, and diesel generator & pump repair for Class X passouts, she said, adding, the courses will be of about 12 weeks duration.

"In the last five years, we have significantly expanded our efforts with a sharp focus on four key areas that are essential enablers for widespread participation in economic opportunities in the country education, healthcare, skill development for sustainable livelihoods and financial inclusion," she said.