ICICI Foundation for Inclusive Growth Annual Report 2010-2011
44 Our visiOn is a world free of poverty in which every individual has the freedom and power to Our missiOn is to empower the poor to participate in and create and sustain a just society in which to live. benefit from the indian growth process through integrated action in the fields of primary health, elementary education, financial inclusion and sustainable livelihood. This will be achieved through active collaboration with the government and independent organisations. 44 Making India’s growth more inclusive.
44 44 ICICI Foundation for Inclusive Growth (ICICI Foundation) was founded by the ICICI Group in early 2008 to carry forward and build upon its legacy of promoting inclusive growth. ICICI Foundation works with government authorities and specialised grassroots organisations to support development work in four identified focus areas. We are committed to investing in long-term efforts to support inclusive growth through effective interventions.
For over five decades, the ICICI Group has partnered with India in its economic growth and development. Promoting inclusive growth has been a priority area for the Group from both a social and business perspective. We strive to make a difference to our customers, to society and to the nation’s development directly through our products and services, as well as through our development initiatives and community outreach.
44 44 This year we have refocused on deepening our interventions to cover the intertwined elements of personal “and national development. In addition to our work in primary health, elementary education and access to finance, we have expanded our work into a critical new area of focus: sustainable livelihoods. ” Message from the Chairman Governing Council, ICICI Foundation for Inclusive Growth
As the Indian economy continues to grow, we need to ensure that this growth is sustainable and inclusive. This is important for the long-term development and prosperity of the nation. The ICICI Group through ICICI Foundation continues to remain committed to creating conditions for inclusive growth. We strive to ensure that our approach to development delivers holistic benefits to every segment of society. To provide details about how our approach works on the ground, I am pleased to present the third annual report of ICICI Foundation for Inclusive Growth.
This year we have refocused on deepening our interventions to cover the intertwined elements of personal and national development. In addition to our work in primary health, elementary education and access to finance, we have expanded our work into a critical new area of focus: sustainable livelihoods. Through our efforts, we aim to broaden the opportunities available to the poor by strengthening their ability to provide for themselves and their families.
The interventions in our four focus areas are designed to complement one another, ensuring that our work considers inclusive growth from every perspective: personal, societal, cultural, and economic. With this vision we work to ensure that babies born in India grow into healthy children, attend school and become productive adults with full access to financial services.
Recognising that each component of development is interconnected, this past year has been a time for strengthening not only each of our programmes, but also the links between them.
At the ICICI Group, we strive to ensure that India’s growth is inclusive not just in the communities it touches, but in the diversity of opportunities it offers. Having been a key partner in India’s development for decades, ICICI Group is pleased to see ICICI Foundation now playing an active role in including marginalised communities in this growth.
K.V. Kamath Chairman, Governing Council, ICICI Foundation for Inclusive Growth Chairman, Board of Directors, ICICI Bank
5 44 This year, we have asked ourselves how our interventions can improve the lives of the poor from a “holistic perspective. ICICI Foundation works closely with the government to bring awareness and support to existing programmes as well as help create new methods of inclusion. ” Message from the Managing Director & CEO ICICI Bank
The ICICI Group views promoting inclusive growth as a priority from both a social and business perspective. For over five decades, the ICICI Group has been playing a proactive role in India’s growth, through its business operations as well as its social initiatives. Three years ago, the ICICI Group established ICICI Foundation for Inclusive Growth to integrate and scale up its social initiatives.
ICICI Foundation has focused on specific areas that are essential enablers for inclusive growth. These include primary health, elementary education and access to finance. In the areas of healthcare and education, the Foundation’s work focuses on partnering and supporting government systems in order to bring about sustainable improvement in the quality of healthcare and education delivered to large sections of the population. The Foundation is scaling up its healthcare and education work in several states across the country. In the last year, the Foundation has expanded its areas of work to include the promotion of sustainable livelihoods, by undertaking vocational training initiatives.
Without efficient implementation, even the most comprehensive strategy for development is unlikely to be successful in bringing change. The Foundation works with various specialised agencies for the delivery of the identified projects in our areas of work. To ensure efficient utilisation of resources for maximum impact and to provide insights for continuous improvement, the Foundation has deepened its involvement in the various projects, going beyond being a provider of financial resources to end-to-end planning, monitoring of execution and measurement of results.
The ICICI Group has a strong belief in India’s potential. We believe that our country is on the path to sustained growth and prosperity. Through ICICI Foundation, we seek to create opportunities for every Indian to participate in the growth process and benefit from it.
Chanda Kochhar Managing Director & CEO, ICICI Bank Member of the Governing Council, ICICI Foundation for Inclusive Growth
7 44 In seeking to understand and assess every aspect of our impact, we have realised the importance of “standardising our processes for designing and monitoring our programmes. ” Message from the President ICICI Foundation for Inclusive Growth
This year, ICICI Foundation has worked to consolidate and strengthen our work in the areas of health, education, and access to finance, and we have introduced a new focus on sustainable livelihoods. We have initiated several new far- reaching and systemic initiatives and closely examined our existing programmes to ensure that we make the best possible use of our resources to drive inclusive growth.
We have made an important shift in our approach to programming, taking an active role in implementation. The outcomes of development interventions can be difficult to ascertain, and we must be accountable for our programmes from start to finish. In seeking to understand and assess every aspect of our impact, we have realised the importance of standardising our processes for designing and monitoring our programmes.
Our experiences on the ground have demonstrated the complexities of scale and the complications of maintaining long-term interventions. Our district-level work in elementary education in Rajasthan, discussed in last year’s annual report, provided us with the necessary experience and understanding to scale up our programme to the state level. Over the next six years, we will be working closely with the Government of Rajasthan to support their efforts to comply with the national education mandates with respect to teacher training curriculum, school reform and a child’s right to education (page 27). An initiative like this may not have the immediate gratification of a smaller programme with direct access to beneficiaries, but through sustained commitment we will be able to improve the schooling of over 7.4 million children in the state.
Through our support to Jharkhand’s community health worker programme, we realised the importance of context-specific interventions. In this programme we have worked closely with all levels of government health functionaries to examine and improve the ability of local community health workers to deliver health services in their villages (page 15). Training materials for health workers that were printed in Delhi will not necessarily provide the necessary information for the villages of rural Jharkhand. After restructuring their training programme to provide comprehensive skill building and monitoring along with new modules
9 Establishing market linkages, examining supply chains, understanding finance and career development will create young people who are ready to participate in and benefit from our nation’s growing economy.
on nutrition, disease, and leadership that were created especially for Jharkhand, over 40,000 health workers are now equipped to improve the health of their communities.
This year we’ve welcomed a new area into the Foundation’s focus, sustainable livelihoods. In areas where we are already working in health, education and access to finance, we are now providing vocational training to rural youth (page 44). In addition to teaching vocational skills, we have been working to cultivate the soft skills and understanding that these individuals require to become successful entrepreneurs. Establishing market linkages, examining supply chains, understanding finance and career development will create young people who are ready to participate in and benefit from our nation’s growing economy.
We also welcomed the first batch of ICICI Fellows, an experiential learning programme interspersed with management training that exposes future leaders to India’s diverse communities and complex realities (page 57). These young professionals work in rural NGOs across India with a focus on development projects at the grassroots level. Becoming embedded with the communities has expanded the knowledge, insight, leadership skills and commitment of the Fellows to providing solutions for the poor along with greater perspective on the responsibility we all have towards our country.
This past year has been a time of immense learning and we aim to continue to strengthen our understanding and reach in the coming year. As you read through our annual report, I invite you to reflect on how you feel India’s growth can become more inclusive. Do you feel we are using our resources in the most efficient manner to create a just society? What else should we be doing to lift people out of the vicious cycle of poverty?
We look forward to your thoughts and ideas.
Subrata Mukherji President ICICI Foundation for Inclusive Growth
4410 44 Primary health
Elementary education
Access to finance
Sustainable livelihoods
ICICI Group CSR
12 Where we work and what we do
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ICICI Foundation believes that good health is necessary for inclusive growth. Proper health and nutrition ensure that everyone has the chance to become a productive member of society.
Advancing primary health
15 Advancing primary health
we strive to develop solutions to enable government health systems to become more effective. Some of our key interventions in the field of primary health are:
district health Action Plans For the third consecutive year, ICICI Our work in health focuses on strengthening public health delivery Foundation has worked with Public Health systems to improve the health of people in the poorest communities Resource Network and National Health Systems Resource Centre to support across India, particularly mothers and children. High levels of child the preparation of District Health Action deaths persist in many parts of the country, due primarily to preventable Plans in every district of Bihar. These plans enable proper assessment of the diseases. Chronic and widespread malnutrition, expressed in indicators available resources and requirements of such as low birth weight, is a crucial underlying determinant of child the public health system so that central mortality. Poor health in these early years seriously compromises government funding can be allocated on an informed basis and health programmes children’s development, affecting a vast number of Indians throughout can be implemented in a planned and their lives and resulting in a cycle of poverty passed through generations. effective manner.
At an estimated 30 percent, India has the second highest incidence of nutrition Security Programme low birth weight in the world and over 50 percent of Indian children are This initiative aims to improve nutrition malnourished by the age of three1. among children from six months to three years old by enlisting and training Mitanins (community health workers) to ICICI Foundation supports and works collaboratively on a range of change dietary and childcare practices in communities. The programme has initiatives with potential to translate into large-scale and sustainable been undertaken in partnership with improvements in health care and development in India. In addition to the Chhattisgarh State Health Resource undertaking field-based action-research projects across the country, Centre in 23 blocks across 11 districts in Chhattisgarh. Approximately 9,000 ICICI Foundation facilitates state-civil society resource partnerships Mitanins have been trained in nutrition- to strengthen public health systems and programmes, and develops a related issues. The intervention has resulted in improved enrolments in variety of knowledge, policy and capacity building initiatives to address anganwadis for accessing healthcare key gaps in the health system. and increased distribution of food
16 supplements. Household feeding health. The project is designed to succeeded in achieving its target of practices have also improved as a result empower women to independently enrolling more than 1,000 pregnant of adding locally available nutritious food improve nutrition for themselves and women and documenting nearly 700 to the diet. their children. The study tests the impact births. of enhancing micronutrient quality in mumbai maternal nutrition Project women’s diets from before conception
ICICI Foundation supports the Mumbai to delivery by examining women’s 1Source: United Nations Children’s Fund and World Health Maternal Nutrition Project, a randomised health, foetal growth and their children’s Organization, Low Birthweight: Country, regional and global estimates. UNICEF, New York, 2004 and National controlled trial on maternal and child development. In 2010-2011, the project Family Health Survey 3, 2005-06
17 Advancing primary health
Developing new products for outpatient healthcare
over the past decade, the Government of India has made significant investments in the public health system to bring healthcare closer to households even in rural and remote areas. however, factors such as shortage of medical personnel and quality drugs in rural areas continue to limit use of the public health system. this has forced a significant portion of the population to seek healthcare from the private sector, a costly endeavour for most Indians. As part of its efforts to reduce the burden of healthcare costs, ICICI Foundation has partnered with ICICI lombard General Insurance Company to design and support the delivery of the first outpatient insurance product for India’s poor.
The project aims to lower the out-of- poor receive healthcare. This product The two-year pilot project will impact pocket healthcare expenses for India’s is expected to transform the health more than one million lives, and the rural poor by creating affordable and and financial security of low-income lessons that emerge from this project reliable options for outpatient healthcare. households in the pilot districts by will inform and shape future delivery and The project will offer outpatient insurance improving access to timely and quality financing of healthcare in India. in conjunction with the Government of healthcare, strengthening the delivery India’s national health insurance scheme of essential health services in rural In addition to funding the project, ICICI for inpatient care, the Rashtriya Swasthya and remote regions of the country and Foundation is serving as the chief learning Bima Yojana (RSBY). This outpatient building critical health capabilities among partner for the project. Since this is insurance will be piloted first in Puri low-income households to support their India’s first outpatient healthcare-based district in Odisha and subsequently in participation in the economy. insurance project, ICICI Foundation will Mehsana district in Gujarat, providing be closely examining the outcome. ICICI recipients with reliable and affordable The project will also have a positive Foundation will evaluate the impact of outpatient healthcare 24x7 at empanelled impact on the supply side of outpatient the project on overall health indicators government and private outpatient clinics healthcare. It is expected that there in both districts and assess how the and hospitals. will be an increase in the network of inpatient and outpatient products work hospitals, clinics and pharmacies in both together and what impact they have on Supporting government initiatives in locations to meet the increased demand drug prescription patterns, out-of-pocket this way allows ICICI Foundation to for outpatient care. expenses and access to healthcare. drive widespread change in the way the
18 19 Advancing primary health
Building Systems for Healthy Communities ICICI Foundation’s work in Jharkhand
In jharkhand, two out of every five mothers receive no health care Since 2008, ICICI Foundation has worked during pregnancy. Acute shortages of doctors and nurses in the state in partnership with the Government means that few people have access to medical care at the local level, of Jharkhand through the Jharkhand resulting in poor health indicators in rural jharkhand1. Since ICICI Rural Health Mission Society (JRHMS), Foundation believes that good health is fundamental for achieving National Health Systems Resource Centre inclusive growth, improving access to primary healthcare in (NHSRC), and an NGO called Child In Need Institute (CINI). The goal of this jharkhand continues to be an integral part of our work. partnership has been to support the public health system by strengthening community processes of the National Rural Health Mission (NRHM), a national healthcare programme for rural populations that focuses on 18 states with poor health indicators – including Jharkhand. A key element of the NRHM involves engaging communities as participants in the public health system by establishing Village Health Committees (VHCs) and training community health workers called Accredited Social Health Activists (ASHAs). In Jharkhand ASHAs are referred to as ‘Sahiyyas’, meaning “friends” in the local dialect.
The primary strategy of the state- civil society partnership formed by ICICI Foundation and its partners in ICICI Foundation works with the Government of Jharkhand on community-based Jharkhand has been to support VHCs and health care, such as this Village Health Committee meeting in Chanda Ghasi Sahiyyas by establishing a Village Health village. At this month’s meeting, community health workers decided to use their government funds for fixing their well and cleaning their water pumps. They Committee-Sahiyya Resource Centre have also begun preparing for monsoon-related diseases and treatment. (VSRC) that is responsible for designing,
1Source: “International Institute for Population Sciences (IIPS) and Macro International. 2008. National Family Health Survey (NFHS-3), India, 2005-06: Jharkhand. Mumbai: IIPS 20 VHC & SaHiyya Programme Team TE LEV STA EL
Programme Co-ordin- aTor planning and implementing the Village Training regional SaHiyyaS Team Co-ordin- Health Committee and Sahiyya 40,962 48 aTorS programmes across Jharkhand. (1 /village) (2 / district) 8
STRICT LEVE Establishing a model for DI L health: Setting up the Village health Committee-Sahiyya Resource Centre (VSRC) Programme Co-ordinaTor
22 Sahiyya: A friend of health (1 / district) In Jharkhand, Sahiyyas function as bridges between their communities and K L the government health system. They act BLOC EVEL as community mobilisers by helping the government spread awareness about Training health programmes and good health Team practices. When properly trained and 848 supported, Sahiyyas can be extremely (4 / block) effective in improving public health in rural areas. STER LEV LU EL C From September 2008 to March 2011, SaHiyya ICICI Foundation and its partners focused SaTHiS 2184 on establishing the Village Health (1 /20 “In Jharkhand, we don’t call it a Committee-Sahiyya Resource Centre Sahiyyas) Sahiyya programme, we call it (VSRC) to train and support Sahiyyas. a Sahiyya movement. After the Having identified weaknesses in trainings AGE and the absence of a support structure ILL LEV V EL leadership training, the Sahiyyas for Sahiyyas to function effectively as SaHiyyaS have a unified identity. Now they tell health activists as the primary gaps in 40,964 the implementation of the VHC-Sahiyya (1 /1000) me, ‘No one can misuse us and our programme, ICICI Foundation worked power.’” closely with the government to establish VHCs Akay Minz, Village Health Committee-Sahiyya a VSRC team to standarise the training (1 /village) and develop supportive supervision Resource Centre State Programme Co-ordinator
21 Advancing primary health
Some of the restructured training materials for community health workers in Jharkhand.
the importance of their own role and can raise the health concerns of their community at appropriate forums.
A group of block-level health trainers at the training on nutrition and disease. The VSRC has developed a variety of In this exercise they are making a presentation on the symptoms and causes of innovative formats to help the Sahiyyas in blindness due to Vitamin A deficiency and how each Sahiyya (community health worker) can provide treatment. This module and training programme were carrying out their work. For instance, the redesigned with the help of ICICI Foundation. Sahiyya Passbook, a book given to each Sahiyya that helps them keep track of their performance-based incentives was structures within the VHC-Sahiyya design modules that were both easy to developed by the VSRC team. programme. understand and connected to the local The VSRC has also started the circulation communities. To date, 40,964 Sahiyyas of a monthly theme-based Sahiyya The VSRC has now taken charge of have been trained with this new training bulletin, to be given to every Sahiyya. the training for Sahiyyas in all districts material. and has developed innovative and Another tool to mobilise the Sahiyyas contextualised training materials and Empowering the Sahiyyas to work and encourage community participation modules so that the trainings are towards attaining the health entitlements in the health system are the district- relevant, comprehensive, and informative. of their communities is essential for level Sahiyya Sammellans. These yearly Unlike the national modules issued the effectiveness of the programme. To Sammellans provide a forum for all from Delhi, the new modules focused address this need, the VSRC created Sahiyyas in a district to come together on Jharkhand-specific language and a module on leadership that seeks and share their experiences. Rewards for themes. The team took special care to to ensure that Sahiyyas understand good-performing Sahiyyas are also given
22 “Before the training, I didn’t know how to talk to people. I just stayed where I was. Now, I know how to move around and I can help more people.”
Binita Devi, a Sahiyya Sathi in Khunti block out during these sammellans. Government officials attend the Sahiyya Sammellans, which gives Sahiyyas an opportunity to have direct access to district officers and health functionaries.
The VSRC is also responsible for working with the state government to create a year-long plan for community health initiatives.
Strengthening Community Resilience: the Village health Committee Village Health Committees are groups of around ten villagers, including Sahiyyas, anganwadi workers and other stakeholders, who meet monthly to discuss the health-related issues of their village. According to the NRHM’s guidelines, there should be one Sahiyya for every 1000 people and one Village Health Committee at the village level. The VHCs collectively plan and supervise
23 Advancing primary health
“Health workers have the right to assess, plan, and monitor In September 2010, through the VSRC, ICICI Foundation helped facilitate the the community’s healthcare needs. The National Rural official registration of the Jharkhand Health Mission provided us an opportunity for this.” State Health Systems Resource Centre (SHSRC), the culmination of two Gurjeet Singh, Programme Advisor, Village Health Committee Sahiyya Resource Centre years’ work. The SHSRC will help the government’s Department of Health & Family Welfare to deliver health services across the state and provide support for the VHC-Sahiyya programme.
Now that the proper support systems health and sanitation programmes in VSRC is responsible for training the VHC are in place, the Sahiyyas have renewed their village. This involves looking after members. A training module for VHC determination to improve the health of both preventive and curative aspects of members was designed, planned and their communities. As one Sahiyya said, community health and providing a forum carried out by the VSRC team to better “Jharkhand ke swasthya ke liye mehanat to mediate health-related problems and acquaint them with their roles and karna hai Sahiyya ko” (“Sahiyyas have to demands of the villages. The VHCs also responsibilities. work hard for Jharkhand’s health”). monitor the implementation of public health, nutrition and sanitation works in In keeping with the spirit of bringing Despite the vast gains in knowledge their villages. about government accountability in and training, there are several concerns public health service provision, the that the VSRC would work to address The government has allocated untied VSRC supported the launch of a state- in the coming years, including the loss funds of Rs.10,000 to each Village Health wide community monitoring initiative. of information through multiple layers Committee for undertaking health and In the pilot phase, one block in each of trainers and training cadres, and also sanitation-related work in their villages. district organised a public dialogue for coordinating state-wide trainings in a The VSRC has monitored the transfer of communities to interact directly with geographically diverse state. the government funds for 26,636 VHCs. the functionaries of the health and In the course of their monthly meetings, Integrated Child Development Services Ensuring the sustainability and VHCs collectively decide how their untied (ICDS) departments. Prior to the block- implementation of our work: funds will be utilised. Common uses level dialogues, the VSRC trained two transitioning programme ownership of the funds include transportation for members in every VHC in assessing to the government serious patients to hospitals and minor the available health and development repair work on sanitation facilities. services to prepare report cards that are In 2011-2012, ICICI Foundation will presented at the public dialogues. work towards strengthening the new In addition to training the Sahiyyas, the systems that have been put in place and
24 transitioning ownership of the programme to the government.
VSRC will establish planning and monitoring committees from the village level to the state level and will also seek the support of the Panchayati Raj Institutions, the local elected governing bodies of clusters of villages. There are approximately 56,000 Panchayati Raj members in the state, and their cooperation could significantly augment the programme and improve community participation.
The increased confidence and skill levels of the Sahiyyas is clear. Thanks to their restructured training and government support, the VHC-Sahiyya programme is set to bring about significant changes to the state’s health.
“I do this because I want development for my village. I want us to progress. I like bringing awareness to people about what they are entitled to from the government. Before me there were no immunisations in my village. Now they all get immunised and about half of the women have institutional births. Because of my new training I know so much more about the health of mothers and children, and my responsibilities to them.”
Baby Devi (left), a Sahiyya in Dugdugia village in Khunti block for the past three years. In 2011, she was elected to her village-level Panchayat Raj.
25
2 ICICI Foundation believes that in order for India’s growth to be inclusive and sustainable, all children must be able to receive good quality education. With proper education, children become empowered to take ownership of their lives and the lives of their families. Education is necessary to build a society that is capable of actively driving the social, economic and political processes of the country.
Promising quality in elementary education
27 Promising quality in elementary education
our vision We believe that quality education entails that every child l Complete at least eight years of formal schooling l Acquire competence in comprehension, reading, writing, subject knowledge, critical reasoning and creativity l Interact with teachers who Are well trained Are reflective India’s school system needs to produce future citizens who not only have Demonstrate an appreciation for the the skills and abilities required to become economically productive, but social context of learning also possess qualities such as critical thinking, sensitivity, tolerance, Are committed to values of justice, secularism and equality in the and creativity. By the end of elementary school, every child should classroom be able to read, write and express herself confidently and creatively, our commitment possess basic math skills, and be capable of critical enquiry. ICICI Foundation is committed to promoting universal quality education India has made great strides in providing universal elementary education for children between 6 and 14 years old in government schools. With a focus on to its 440 million children. Today, 98 percent of Indian children have a ‘School and Teacher Education Reform’, primary school within one kilometre of their home and an upper primary we have consistently maintained that achieving educational quality is school within three kilometres. However, the quality of schooling remains a systemic imperative which should unacceptably poor, with low retention rates and low learning outcomes. ultimately result in better teaching- Only 47 percent of children enrolled in grade 1 remain in school beyond learning processes and outcomes within schools and classrooms. To help drive the elementary stage and students’ learning levels are consistently far this systemic change, we work with below their grade. government school systems and provide institutional support to a network of resource organisations that work within Through 2010-2011, the Foundation has worked to consolidate its efforts the government school system. with a comprehensive strategy to contribute in improving quality in Over the past decade, our efforts elementary education in India. within the government school system
28 have concentrated on curricular and institution for teaching and learning. Curriculum Framework (NCF), 2005 and pedagogic reform. Our partnerships Realising this renewal is the core focus of the National Curriculum Framework for with state governments have resulted in our education partnerships in the coming Teacher Education (NCFTE), 2009, provide projects such as the Quality Education years. the structure for our education reform Project, Baran, Rajasthan and support programmes. to the Government of Chhattisgarh in We are guided by several recent developing their Diploma of Education government mandates that aim to According to the RtE, NCF and NCFTE, Programme, and creating text books improve the accessibility and quality state Governments must ensure that for grades I to VIII. We have supported of elementary education in India. The their education systems deliver a child- organisations like Eklavya, Digantar, Vidya Government of India’s vision for the centered learning approach, that their Bhawan Education Resource Centre and Right of Children to Free and Compulsory teachers are facilitators of knowledge Vikramshila, enabling these organisations Education Act, 2009 (RtE); the National and that their school environments to strengthen their ability to lend support to state governments in various roles and capacities.
Shift in ICICI Foundation’s approach: State-wide and system-wide school and teacher education reform Over the past year, ICICI Foundation has made a strategic shift in the approach to our work in education. The primary focus of our work is now on partnering with state governments and directly, embedding our initiatives within the government educational institutional space. The mode of our partnership and operation proposes to drive change from within government institutions.
Our objective is to enable teaching learning processes to move away from rote methods of instruction so that India’s classrooms become child-friendly environments that nurture creativity, learning and knowledge construction. This change requires renewing the entire
44 Promising quality in elementary education
The right of Children to Free and Compulsory education Our work engagement is structural, organic to institutional environment of The government of india enacted the right of Children to Free and the entire space of school and teacher Compulsory education act, 2009 (rte). rte specifies the requirements education set up of the Government. for offering free and compulsory quality education for children between the ages of 6 to14 years. it also requires that the neighbourhood schools Bringing this reform agenda centre-stage do not discriminate against children of any particular background; requires working within the complex appropriate pupil - teacher ratio is maintained in schools and School multi-layered institutional space of the management Committees are established, comprising of parents and government elementary education set other stakeholders connected to each school. There is also the provision up and credible commitment on behalf of of Continuous Comprehensive evaluation (CCe) of children that moves away from conventional forms of assessment to focus on the child’s both parties. progress holistically and continually through the year. iCiCi Foundation works with the government of rajasthan to ensure that its schools come By collaborating with the public closer to complying with rte norms and enable every child to reach their education system, we work to improve fullest potential. the performance of the government
encourage children to construct and explore knowledge. The process through which this reform is to be undertaken is both ambitious and challenging to deliver for the state governments, as there are no readymade guides and method to bring the required shift in the teacher preparation, teaching-learning and classroom practices, given the varying and complex institutional capacities of the teacher education set up in states.
Governments are expected to undertake reform encompassing the school and teacher education, which will include the school and teacher education curriculum; aligning in-service teacher training; implementing new teacher recruitment norms and re-orienting the teacher educators to meet the changing needs. The relevance and significance of the work of ICICI Foundation comes in here.
30 our new approach
over the past year, iCiCi Foundation has made a strategic shift in the approach to our work in education. The primary focus of our work elementary school system and support authority responsible for school and is now on partnerships with them to institutionalise sustainable teacher education in each state. the government that, allow change on scale. In this sense, the work ICICI Foundation provides each UTE us to directly drive change of ICICI Foundation is significant in the with four or five senior officers who from within public education institutions. guided by several realm of public private partnerships in work collaboratively with the senior recent government mandates, India. government faculty to anchor the reform our objective is to enable agenda. teaching in schools to move Realising our ideas with away from rote instruction collaborative action Similarly, at the District level, through its toward child-friendly learning environments that nurture We focus on supporting state state-level partnership, the Foundation’s creativity and knowledge. governments build cooperative and officers work within the Teacher Support supportive relationships among the Unit (TSU) formed at the District school administration, teachers, and Institutes of Education and Training communities at the school level. In (DIET) which enables close collaboration Tripura, Bihar. Our education initiatives addition, we work to ensure that with senior education faculty in the focus on four areas of reform: teachers have the requisite knowledge government. and abilities to teach well and that they 1 School curriculum and textbook are motivated to do so. To sustain good The TSU is the mechanism created development teaching practices, teachers require through our state partnerships to deliver 2 Pedagogic renewal and teacher not only encouragement but also, and the reform agenda at the District level, education more importantly, ongoing academic and strengthening the Block academic 3 Governance and institutional administrative support. Collaborating resource structures and providing support accountability with the government and other to the Nodal headmasters or Cluster 4 Information and Communications independent organisations ensures that Resource Centres that provide constant Technology (ICT) for teacher education all these factors are fully supported in academic enrichment to the teachers in our education work. We strive to create the classrooms. ICICI Foundation is also 1 School curriculum and textbook spaces within the government education establishing a demonstration programme development institutions that drive quality education in two to four districts of each state to Since school curricula and textbooks practices at the state, district, block, and develop continuously the practice area of determine what is to be taught and school levels through innovative action in this reform agenda and use it for further how educational instruction is planned school and teacher education. training and innovations. and evaluated, this is a focal point of ICICI Foundation’s work in elementary At the state-level, our initiatives are the universe of our work education. centered in a Unit of Teacher Education We are currently working in the most (UTE) that we establish within the State challenging environments, directly in The National Curriculum Framework Institute (or Council) for Educational states like Rajasthan and Chhattisgarh brings a new vision and perspective Research and Training, the academic directly and indirectly in West Bengal, to conceptualisation of the school
31 Promising quality in elementary education
“Children’s interest is very important and it is up to the the child. Along with curriculum and textbooks, ICICI Foundation believes that teacher how to engage them. Only after we learnt through training current and future teachers is an the training programme and gained experience, we are essential pre-requisite for bringing about able to teach well.” qualitative change in education. Prabhulalji, a teacher at the government Upper Primary School in Dhaturiya, a Because of RtE, NCF and NCFTE, the small village in Shahbad block of Baran district in Rajasthan. As a result of their roles of teachers and how they are involvement in ICICI Foundation’s curriculum reform, the teachers of Dhaturiya have seen increased engagement from the students and can now offer English language perceived have undergone a fundamental lessons. shift. Teachers are no longer positioned as ‘deliverers’ of textbook material. Instead, they are perceived as facilitators, engaged in a mutual teaching-learning learner, the understanding of the Research and Training to revise their process with their students, in which nature of knowledge and learning, and textbooks along the lines of the NCF. they create learning opportunities for consequently, how children ought to be The tasks involved in this are to develop children. They are expected to be critical, taught. This Framework is, among other curricular guidelines, syllabus, school reflective and sensitive practitioners. things, a strong critique on the reliance of textbooks and other curricular material. For many teachers, this is a radical shift our school system on rote memorization, from their existing classroom preparation and perceives learning in our schools as In Rajasthan, we are working to facilitate and practices. To support teachers in a continual process, rooted in the child’s and guide the process of developing making this shift, ICICI Foundation helps own context and experiences. The Right textbooks with the new aims and vision state governments to revisit the areas to Education Act too endorses this vision of education set forth in RtE and NCF. As of teacher education and pedagogic and makes it mandatory for states to discussed in last year’s annual report, the support. implement their curriculum along these textbooks we developed in Chhattisgarh lines. reach approximately 4.5 million students Our programme development has focused in grades I to VIII in government on two critical aspects. First, we have We see our role as that of working schools. We are now working to build concentrated on strengthening the with state governments to embed the a mechanism for continuous review, institutional spaces for teacher education NCF vision and discourse in a way that revision and improvement of these at the state and district levels, focused on it becomes integrated in the thought textbooks into the Chhattisgarh school both pre-service and in-service teacher and practice of school education of the system. education, such that the programmes state. Through facilitating consultative are re-envisioned in terms of their processes involving members of the 2 Pedagogic renewal and teacher curriculum, content and delivery. In the academic and school communities, education states of Rajasthan and Chhattisgarh we work in partnership with the State The teacher’s role is critical in ensuring our support is aimed at recasting the Institutes (or Councils) for Educational a meaningful learning experience for Diploma in Education programme. This
32 developing an inclusive school environment
getting children of all backgrounds to involves the review and preparation of curriculum across DIETs in the state. attend and remain in school is still a the curricular guidelines, syllabus, reading major concern, particularly in rural areas. material, and also the development of its Second, we have dedicated attention to Teachers and educational functionaries need to ensure that children of all assessment system. Our work is part of aligning and strengthening the linkages backgrounds are encouraged and an evolving continuum, being enriched at the district, block and cluster levels supported in attending school regularly. by the experience of the development of for better classroom support to teachers iCiCi Foundation’s work addresses the Diploma in Education Programme in in order to enable them to perform these concerns through two methods: Chhattisgarh. The support for the Diploma effectively in their newly envisaged roles. community participation and inclusive teaching methods. interactive learning in Education Programme in Rajasthan and In Rajasthan the focus on positioning techniques help students feel connected Chhattisgarh is not directed as a one- Head Masters as the Nodal academic to their classroom and education. time effort in the state, instead it aims support (each Panchayat is a node engaging the communities and parents to establish a mechanism for continuous covering the catchment of 7-8 schools) in school activities helps dispel any review and necessary revision of the alongside the Block level resource negative images of classroom learning and conveys the benefits of education. programme. It also includes training facilitators is aimed at a new avatar of teacher educators to transact the providing constant input to the teacher
33 in the classroom. This will strengthen and pedagogical knowledge. This has not will design professional development pedagogic knowledge and pedagogic been tried in India in the measure that it programmes for education functionaries renewal in a consistent manner. Providing should draw the attention of the entire on topics that will mitigate these barriers. academic support to the teachers in this governmental infrastructure dedicated to manner goes a long way in supporting the teacher professional development. Subsequent to this, support to the classroom processes and classroom various processes will be facilitated management and strengthening the However, moving forward in the through varied professional development entire supply chain from DIETs to programme development, our effort is to initiatives, at the same time facilitating Blocks and reaching the teacher in the engage the teachers in this process in a support to build systemic processes classroom. In Chhattisgarh this support manner that they become stake holders. to address key challenges in teacher is anchored largely through the cluster We aim to develop our programme management, improving educational academic coordinators or resource keeping in view the learning aspirations of planning and district learning outcomes. persons. the teachers and allowing for the teacher The professional development inputs professional development programmes to in addition will range from improving Members of the teaching community, be demand driven. Engaging teachers in communication and interpersonal skills, faculty from the State Council of this manner from the formative stages is, problem-solving ability, multi-tasking Education Research and Training (SCERT) key to involving them as stakeholders. abilities, and knowledge of learning and DIETs, academics from in-state and institution standards and practices. out-of-state universities, and faculty 3 Governance and institutional from institutions like the National Council accountability All of this effort should lead to of Educational Research and Training ICICI Foundation will support improvements in bringing lower teacher (NCERT) all contribute to designing the the professional development of absenteeism, effective and time- pedagogic renewal programme. administrative functionaries (such as bound disposal of teacher grievances, the District Education Officers (DEOs), improved block and district level student Evidence based teacher professional Block Education Officers (BEOs), and performance, teacher professional development District Project Coordinators) through development based on needs assessment programmes that address results-driven of student and teachers’ learning, and We believe while working for holistic educational planning, management, and improvements in school, block and development of the public school system, good governance. Our first step is to district level planning. the system should also be accountable examine the structural and behavioural toward ensuring an environment where barriers to effective governance. This 4 Information and Communications the professional performance is facilitated will be followed up with a consultative technology for teacher education and the educational goals are met. In process across the state with the DEOs, ICICI Foundation believes that the this, our endeavour will be to ensure that Department of Public Instruction and magnitude of India’s teacher workforce the teacher professional development others in the public education hierarchy poses unique challenges to providing is constantly developed on the basis of to discuss the study’s findings and to teachers with high-quality professional evidence of teacher learning, conceptual delineate an actionable agenda. We development opportunities. ICICI
34 Foundation aims to provide a model for and academic enrichment, leveraging using Information and Communications the existing technology infrastructure Technology (ICT) effectively for in-service available through partnerships with teacher education with a pilot at the private and government bodies. This ICT block level in one district of Rajasthan and will include materials such as self-paced four districts in the state of Chhattisgarh. e-learning multimedia, films for specific teaching practices, and virtual learning These pilots will focus on using ICT to communities. further continuous teacher learning
35 Promising quality in elementary education
Creating a model for change Improving school and teacher education in Rajasthan
Imagine you are a teacher in a classroom in rural Rajasthan. In front After working in systemic curriculum of you, students aged nine to thirteen squirm and chatter. Some of the and education reform through ICICI Bank students attend school every day, some of them are absent for months for over a decade, ICICI Foundation has at a time. Some of the children can read sentences while some can taken its dedication to achieving quality barely recognise letters. this classroom would be difficult for any elementary education to the state level in teacher to manage, even more so for a teacher with little to no Rajasthan. training in effective classroom management. Our partnership with the government is designed to support and enable this is the exact situation ICICI Foundation helps to mitigate. education functionaries to deliver quality education in alignment with the current government mandates and to strengthen the state’s teacher education apparatus. In collaboration with the Directorate of Elementary Education, State Institute of Education Research and Training (SIERT) and Sarva Shiksha Abhiyan (the Government of India’s flagship programme for achievement of universalisation of elementary education), the goals of the statewide Rajasthan programme are to:
l Revise the curriculum for training new teachers l Develop textbooks for classes I to V for all subjects and textbooks for classes VI, VII, and VIII for English and Social Sciences l Develop the in-service teacher education curriculum to facilitate the
36 “Rajasthan Government has been promoting public private partnership in school education The national Curriculum Framework sector to bring about qualitative improvement in the delivery of educational services. ICICI The national Curriculum Framework brings a Foundation for Inclusive growth has worked new vision and perspective to conceptualisation of the school learner, the understanding of with Rajasthan Government for three years in the nature of knowledge and learning, and Baran district. We look forward to a meaningful consequently, how children ought to be taught. partnership with them in our efforts to develop This Framework is, among other things, a strong critique on the reliance of our school system on new text-books, strengthening of training rote memorisation, and perceives learning in institutions and setting up of RTE compliant our schools as a continual process, rooted in the schools in two blocks.” child’s own context and experiences. Besides, it proposes an education system that delivers a Veenu Gupta child-centered learning approach, where teachers Secretary, School Education, are facilitators in children’s learning process Commissioner, SSA and school environments encourage children to construct and explore knowledge. iCiCi Foundation’s work seeks to demonstrate and “ICICI Foundation has been instrumental in giving establish a model for how nCF can be translated pace to the critical work areas of pre-service into practice. teacher education, textbook development and strengthening the academic support system. Collaborating with ICICI Foundation, SIERT, Rajasthan will be able to realise the objectives of Right to Education Act and will set an example use of new textbooks by teachers in the for others in achieving universalisation of classrooms elementary education.” l Build the ability of the District Institutes for Education and Training (DIETs) and Anil Rai, Director, State Council on Educational Research block-level functionaries to support the and Training (SCERT), Government of Chhattisgarh in-service teacher education curriculum and teachers inside schools l Institute comprehensive methods for ICICI Foundation has helped form a state- textbook development, and district and evaluating children in classrooms level teacher educator group comprising block-level support l Support 100 schools in two blocks in SIERT faculty, select DIET faculty, select two districts to become RtE compliant, block-level functionaries, schoolteachers To provide a sustainable programme including supporting the establishment and external resource persons from NGOs of teacher and student education and functioning of School Management and universities. This group is divided reform, ICICI Foundation drew on its Committees into four sections to work on pre-service experience with district-level work in reform, in-service reform, curriculum and Baran, Rajasthan. ICICI Foundation’s
37 Promising quality in elementary education
“Earlier we wrote the numbers…like 12 plus 20, and explained addition to the children. Now we use solid of Rajasthan and ICICI Foundation to carry objects – we take 5 pebbles and 4 pebbles and keep them forward their work at the state level for another six years. in front of them. Children count the pebbles and come up with the answer and we tell them that this is what addition Our statewide work in Rajasthan will include: is all about.”
A shiksha samarthak (teachers’ aide) at Arnia Purnia school in Rajasthan has seen a Pre-service teacher Education marked improvement in his students’ learning thanks to ICICI Foundation’s teacher l Revision of the Basic School Training training on learning methods Certificate (BSTC) course, including new syllabus and reading material for 17 subjects of 1st and 2nd year l Comprehensive academic programme for faculty of 33 DIETs in the new pre- service curriculum l Creating a state-level Teacher Educators Group (50-75 members)
textbook development l Develop textbooks for classes I to V for all subjects and textbooks for classes VI, VII, snd VIII for English and Social Sciences
In-service teacher Education l Modules for five subjects from classes I to V based on the new textbooks l Create a pool of state-level key resource persons who will train the district and collaboration with the Government of Foundation was involved in facilitating block-level trainers across the state’s 33 Rajasthan began in 2007, when ICICI support to the programme toward districts Foundation began working on the Quality improving classroom practices and l Train trainers at the district level Education Programme (QEP) in Baran providing a comprehensive model of and block level in the two intervention district, in partnership with two in-state teacher support across the district. The districts and blocks NGOs, Digantar and Vidya Bhawan lessons and achievements from this Educational Resource Centre. ICICI programme encouraged the Government developing Right to Education compliant schools
38 learning as a conceptual understanding service and in-service teacher education training programmes. ICICI Foundation one of the most important questions that iCiCi Foundation’s work will also undertake a thorough impact explores is how to most effectively prepare teachers for the realities of the classroom. Until recently, the process of “learning” in the indian assessment of the reforms at the education system has involved a teacher providing knowledge and school level, including teaching-learning a student memorising what the teacher provides. This translates to practices and improvements in learning teachers being perceived as storehouses of knowledge and students levels. as simply blank slates. as understood through the 2005 government of india national Curriculum Framework, education is not a transfer of knowledge from teacher to student, but learning takes place Based on our experiences in elementary through the classroom and outside environment. Teachers must learn education in Rajasthan, we look forward alongside children and adapt their instructions to children’s abilities to expanding our work to other states. and understanding. This is one of the key principles behind iCiCi Foundation’s education reform.
l Support 100 selected schools in two Monitoring and review will be crucial blocks to become RtE compliant to the success of the programme Building a community-school l Focus on comprehensive and and the sustainability of the reforms. connection continuous evaluation and on School ICICI Foundation is working with the Management Committees Government of Rajasthan to deliver Building a strong relationship l Prepare and support 80 nodal monthly and quarterly progress and between the school and the headmasters in two blocks for their new financial reports and to institutionalise a community is another major focus of iCiCi Foundation’s academic role as mandated by RtE quality benchmarking system for pre- work in education. The rte, 2009 stipulates that School management Committees (SmC) be formed by parents, members of the community and other stakeholders. iCiCi “The long-term partnership of the GoR with ICICI Foundation aimed at Foundation works to ensure that these SmCs are not the institutional strengthening of the SIERT and the academic support only formed, but that they structure has come at a critical juncture. This collaboration hopes to encourage engagement and bring a qualitative transformation in the classroom processes across participation from students and their families. Through the state and to reset the teacher education in compliance of the RtE the work of the Foundation in Act 2009.” select districts the SmC’s are being strengthened to become Pradeep Paneri, Head of Curriculum and Textbooks, vibrant entities State Institute of Educational Research and Training (SIERT), Government of Rajasthan
39
3 We believe that lack of access to financial services is a serious barrier preventing the rural poor from attaining their full income potential and planning for their future. Lack of financial access for low- income households sharply reduces their ability to invest in skill building and education, to make optimal occupational choices and to benefit from and contribute to the nation’s growth.
Enabling access to financial services
41 Enabling access to financial services
Community health workers at ICICI Foundation’s stall at the Reserve Bank of India’s (RBI) outreach programme on December 14 and 15, 2010 at Doba village in Jharkhand’s Lohardagga district.
Our strategy for furthering the goal of Despite progress toward universal access to finance over the last universal access to financial services five decades (such as the nationalisation of the commercial banking involves:
system, the introduction of Local Area Banks, Regional Rural Banks and l Partnering with ICICI Group companies Cooperative Banks) and increased awareness that financial access can to facilitate greater access to finance. l Supporting other organisations to lead to a sharp reduction in poverty, many Indians still lack access to develop deeper insights into the needs financial services and behaviours of low-income individuals in particular geographies, migrant populations, and other households and enterprises that have traditionally been underserved by the formal financial markets.
42 campaigns covering 10,000 additional Including India’s rural poor through workers.
ICICI lombard General Insurance specialised financial products Company Initiatives of ICICI Group companies to facilitate greater access ICICI Lombard General Insurance Company has partnered with several to financial services Central and State Government agencies to offer insurance coverage under various government programmes. Under the Rashtriya Swasthya Bima Yojana ICICI bank ICICI Prudential life Insurance (RSBY), below poverty line workers in ICICI Bank and ICICI Foundation Company the unorganised sector in Uttar Pradesh, participated in the Reserve Bank of ICICI Prudential Life Insurance Company Bihar, Odisha, Gujarat, Maharashtra, India’s (RBI) outreach programme on provides micro insurance to India’s low- Haryana and Punjab have been covered December 14 and 15, 2010 at Doba income population as a part of socially for health insurance. Biometric smart village in Jharkhand’s Lohardagga district. responsible business model. Its micro cards issued to each family capture The outreach programme sought to insurance product for people in rural biometric details of the family and the raise awareness about financial inclusion areas, Sarv Jana Suraksha, provides beneficiaries can check the balance sum and banking opportunities available to insurance for a modest premium of insured, family details, policy details and people in rural areas by travelling to their Rs.50 per annum. ICICI Prudential has coverage at any time during the policy community. ICICI Bank has partnered successfully piloted a unique poverty- period. with Unique Identification Authority of alleviation project in collaboration with India (UIDAI) for a pilot in Hazaribagh, the Micro Insurance Innovation Facility ICICI Lombard has also provided a unique Jharkhand. The Bank conducted finance- of the International Labour Organization health insurance product that covers over themed street plays in Jharkhand and will for the tea workers in Assam. ICICI 1.6 million weavers and their families. A expand the programme in other parts of Prudential has also set up and nurtured special policy is in place to provide health the country. a Community Video Unit called JAWA in insurance to women and their families Dimakusi in Assam with Video Volunteer, involved in silkworm cultivation. ICICI ICICI Bank has also been chosen by an NGO. The unit produced videos, Lombard is also working with a number of the Bill and Melinda Gates Foundation conducted several screenings, campaigns financial intermediaries to deliver weather as one of the five international banks and street plays, which educated 2,000 insurance solutions for farmers through for their “Gateway Financial Innovation households on preventive measures Weather Based Crop Insurance Scheme for Savings” project to promote useful against malaria, educated 45,000 workers (WBCIS). Till date, ICICI Lombard has savings behaviour for the poor. on fiscal savings and provided financial insured close to 2.8 million hectares of literacy training to 45 tea workers, who land and 28 crop varieties through the then conducted ten mass awareness WBCIS product.
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4 In India, there is an urgent need to create adequate employment opportunities for rural youth, particularly those below the poverty line. Given this challenge, ICICI Foundation has broadened the scope of its work to include a new focus on sustainable livelihoods – part of our comprehensive strategy for enabling low-income Indians to participate in and benefit from the nation’s growth.
Cultivating sustainable livelihoods
44 Cultivating sustainable livelihoods
The Foundation’s first steps in its sustainable livelihoods initiative are to strengthen two Rural Self-Employment Training Institutes (RSETIs) in Udaipur and Jodhpur, run by ICICI Bank. RSETIs are training centres for rural youth that provide them with the skills and understanding they need to build lucrative and secure futures. RSETIs also provide residential facilities during training when required. Part of a national programme initiated by the Ministry of Rural Development, RSETIs are run by leading public or private sector banks with the active support of State Governments. Since adopting the Udaipur and Jodhpur centres after its merger with Bank of Rajasthan, ICICI Bank has entrusted the responsibility of managing and growing the centres to ICICI Foundation. On March 28, 2011, ICICI Bank formally inaugurated the new premises at its Rural Self-Employment Training Institute in Udaipur, Rajasthan.
46 “Today is a world of ICICI Foundation will work to upgrade the Apart from trainings at its residential computers and mobiles. infrastructure at the RSETIs, facilitate centres, ICICI Foundation undertakes the recruitment of required staff, spread courses in the villages surrounding I get to be a part of awareness about the work of these Udaipur and Jodhpur where there is that.” institutes amongst the community and demand. introduce new training courses. Through After a one-month course at the this work, ICICI Foundation aims to In the next year, ICICI Foundation aims Udaipur Rural Self-Employment Training Institute, Vivek Samota, promote not only general employment, to train several thousand people through 23, was able to open his own but self-employment and micro-ventures these initiatives. After establishing mobile repair shop. He has since as well. an effective model with the RSETIs in opened a second shop and hired an employee. Jodhpur and Udaipur, ICICI Foundation Towards this objective, ICICI Foundation anticipates expanding its sustainable is focusing on the following strategic livelihood initiatives to other areas where elements for creating successful there is demand and capacity for such employment programmes: interventions.
Skill and competency development ICICI Foundation offers training programmes that are culturally relevant and locally in demand, have low input cost and high returns, and are self- sustainable. Such courses include beautician training, mobile phone repairing, tailoring, cattle breeding and vermi composting, as well as support to youth in building their own ventures.
Sustainability ICICI Foundation is working to put in a place a mechanism for facilitating job placement through industry linkages, support structures for candidates starting their own ventures and regular follow-up with those who have completed their training. Students are guided in technical skills and in understanding how to finance their own start-ups.
47 Cultivating sustainable livelihoods
Nurturing self-reliance and empowerment through livelihoods
For course participants, the impact of the Lalitha Chowdhury, 22, knows she local brides for their special day. Her beautician course at ICICI Foundation’s cannot depend on her husband for a teacher has guided Lalita on applying for Rural Self-Employment Training Institute is steady income, especially since he is a loan for the certification fees to open not just skin deep. For two months, these an alcoholic. She enrolled in the course her own parlour, and she already has rural women not only get expert training to supplement her family’s income and several clients. on the skills required of a beautician, make a better life for herself and her two- but also an opportunity to take control and-a-half year old son. At the Udaipur of their own lives. Whether motivated RSETI, Lalita has learned threading, “I can stand on my own by the possibility of financial security or hairstyling, make-up application and the desire to look like the actresses on other skills to prepare her to open her feet now.” television serials, these women all gain own beauty parlour. Lalita has been on Lalita Chowdury (middle) enrolled in the invaluable training in the fundamentals of exposure visits to ayurvedic hospitals, beautician course at ICICI Bank’s Rural Self- Employment Training Institute to provide a independence. learned yoga, and even helped prepare better future for herself and her family.
48 “I feel good because I can do this on my own.”
Bimla Berba, a recent graduate of the Rural Self- Employment Training Institute’s 90-day tailoring course is gainfully self-employed in her village and wants to begin teaching others about entrepreneurship.
Chanda Kochhar, the Managing Director and Chief Executive Officer of ICICI Bank, inaugurated the Udaipur RSETI on March 24, 2011.“We are working to introduce newer courses including courses on development of soft skills that will help people make a better living. This is a very important initiative and is close to our hearts,” she said in her keynote speech. “I am sure that together with like-minded people and organisations, we can make a considerable impact on the development in our country and shape our future”
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5 In addition to our work in our four focus areas, ICICI Foundation works with ICICI Group of Companies to support their various Corporate Social Responsibility (CSR) initiatives. CSR initiatives are designed to be consistent with the respective area of expertise of each company within the ICICI Group. ICICI Group’s CSR efforts have been and remain integral to its core mission of delivering value to its stakeholders and contributing to the sustainable growth and development of India’s economy.
ICICI Group Corporate Social Responsibility
51 ICICI Group Corporate Social Responsibility
ICICI Group CSR initiatives
ICICI bank
REAd to lEAd Read to Lead Phase 1 was an initiative of ICICI Bank to facilitate access to elementary education for underprivileged children in the age group of 3-14 years, including girls and tribal children from remote rural areas. It has reached out to 100,000 children across 14 states: Andhra Pradesh, Bihar, Delhi, Gujarat, Haryana, Jharkhand, Karnataka, Maharashtra, Orissa, Rajasthan, Tamil Nadu, Tripura, Uttar Pradesh and West Bengal. It supported partner NGOs to design and implement programs that mobilise parent and community involvement in education, strengthen schools and enable children to enter and complete formal elementary education. Read to Lead Phase I focused on bridge courses to support dropout children to re-enroll in formal education, providing educational kits that include uniforms, books, stationery, woollen clothes, inclusive and special education, health and nutritional support for children, and community initiatives for sensitisation on the importance of education. This year, ICICI Bank has entered into the second phase of their Read to Lead initiative. In this phase, ICICI Bank has supported the establishment
52 of 63 libraries that will reach out to children’s learning through extracurricular Rakthpedhi (MR). MR provides safe approximately 7,200 children in the rural activities. Doorstep, a Mumbai-based blood and its components at the least areas of Jagdalpur block of Bastar district NGO, has assessed the needs of the expensive price in Mumbai. This makes in Chhattisgarh. The programme includes school’s students and developed a blood more accessible to people from all building libraries, sourcing books and corresponding set of activities to enhance socio-economic backgrounds. MR also conducting various interactive activities their learning. Depending on the age and regularly provides blood for free to 150 to make the library a dynamic centre for ability of the children, these activities children with thalessaemia and sickle cell learning. include daily study classes, weekly disease. SBTC issues every donor a card reading classes, recreational activities, that makes him or her eligible for one free ICICI Securities mental health sessions, children’s unit of blood within the next two years. committees, workshops and exposure The blood donation drive will now be muktAnGAn EduCAtIon visits. These activities are integrated extended across other offices of the ICICI InItIAtIVE alongside the mainstream curriculum Group in India. ICICI Securities, through ICICI Foundation, to help sustain the children’s interest is continuing its support of the pre- in school. Because of ICICI Securities’ primary section of Muktangan, a Mumbai- support, which began in 2003, Door Step based NGO. Muktangan works within School has been successful in bringing the government school system and about considerable improvement. manages the educational procedures of the Globe Mills Passage Municipal ICICI Group School. Muktangan’s goal is to use holistic techniques to design a model In order to reduce the blood shortage in of quality education that is sustainable India, ICICI Foundation organised a series and affordable. ICICI Securities’ support, of blood donation camps at ICICI Group which began in 2007, helps Muktangan offices in Mumbai, together with State to develop and introduce innovative and Blood Transfusion Council (SBTC), the supportive practices for early childhood autonomous regulatory authority for blood education to their group of pre-primary banks in Maharashtra set up under the students. Some of their practices include Ministry of Health. ICICI Foundation has maintaining both an ideal student-teacher organised three camps so far, at ICICI ratio and continuity between grades. Bank Towers, Mafatlal Chambers and ICICI Bank’s Chandivali office. The camps dooRStEP SChool have received an overwhelming response, Through ICICI Foundation, ICICI Securities with over 1,400 employees donating. has also been supporting the School Partnership Project at the Colaba The blood donated went to SBTC’s Municipal School, a project to enhance premiere blood bank, Mahanagar
53 ICICI Group Corporate Social Responsibility
Caring for mothers and children in functionaries (doctors and paramedics). The impact of the programme activities in rural areas these two blocks will be shared with key ICICI Lombard’s Healthy Lokshakti government health functionaries at the district and state levels to advocate for its scaling up to other blocks in the district.
ICICI Foundation and its resource partners have completed a baseline study for Healthy Lokshakti, conducted by Aurangabad College of Social Work through a randomised controlled field trial. It researched the two project blocks, Trimbak and Peinth, and two controlled blocks, Surgana and Igatpuri, covering 12,906 households and 898 infants. The goals of the study were to assess the existing health indicators including the rate of institutional deliveries, newborn care, and infant mortality, and to identify resource gaps in the existing public health services. An operator at the 24/7 Healthy Lokshakti helpline that connects rural women with information on pregnancy and transportation to medical facilities. Our implementing partners have identified the major barriers to seeking institutional birth for rural women as: Healthy Lokshakti is an initiative funded The programme aims to create and by ICICI Lombard to reduce newborn and maintain a well-coordinated network 1 decision-making. While many women infant deaths by working to strengthen linking the communities, grassroots are aware of the benefits of institutional public healthcare systems and ensure health workers, transportation facilities birth, they may not be in a position within that women receive good healthcare and healthcare institutions in tribal blocks. their family to make the decision about during and after pregnancy and medical It also seeks to create and manage their care. assistance during delivery. The three-year a financial system at the community 2 money. The government provides project is being implemented in two tribal level to meet the emergency needs of incentives for institutional delivery, blocks of Nasik district in Maharashtra – mothers and children, and to provide but many women are unaware of Trimbak and Peinth. multi-skill training to medical and health these programmes and the incentives
54 often fall short of covering the cost of for a patient’s arrival, the helpline will The helpline is operated by Vachan, the transportation. provide a useful service for both patients project’s implementing NGO partner, and 3 transportation. In isolated and rural and doctors. The doctors at the rural staffed by four local professionals, all of areas, clinics and hospitals are rarely hospital will be able to call in advance whom have significant experience in the within walking distance and typically for a specialist like an anaesthesiologist, field of maternal and child health. The require several hours of travel. Most saving precious time. If the patient helpline staff also makes outreach calls to families in villages do not have their own requires medical attention that cannot keep track of pregnancies, deliveries and means of transportation and any available be provided at the Rural Hospital, she the immunisation status of children up vehicles are often prohibitively expensive. will be instructed to go immediately to to one year old, and generate awareness 4 Properly functioning facilities. Low the civic hospital. When an emergency about care during pregnancy. quality of care, doctor absenteeism, case arrives, either hospital will already and overcrowding of health clinics and have received the patient history from the hospitals means that very often families helpline staff and will be prepared to give feel the safest option is to give birth at appropriate treatment. home, or that going to an institution is not worth the expense.
To help reduce these barriers, Healthy Lokshakti has initiated a 24-hour helpline on which callers receive assistance in identifying which nearby medical facility can best handle their situation and in accessing reasonably priced transportation to get there. They can also receive guidance and information about other maternal and child health issues.
Providing guidance about which medical facility the patient should visit will help prevent complicated situations from becoming life-threatening emergencies. Since the women in these intervention areas are often already suffering from health complications like malnourishment, or are underage, pregnancy complications are a frequent and urgent scenario. By The ambulance for ICICI Lombard’s Healthy Lokshakti programme that works to allowing the medical facilities to prepare reduce infant mortality in two tribal blocks of Maharashtra.
55 ICICI Fellow designate Dhivya Shivaramkrishnan demonstrating a microsavings product to a women’s empowerment group in rural Rajasthan. 6 ICICI Foundation believes that in each and every sector, India needs talented young leaders who have had deep exposure to India’s broader realities, who understand the challenges and opportunities presented in diverse environments, and who have the skills and determination to discover and implement innovative ideas
ICICI Fellows Programme
57 ICICI Fellows programmes
ICICI Fellow designate Ramkishan Singh has revived Seva Mandir’s dal mill, a village cooperative in Kotra block of Rajasthan. Through improved monitoring of stock and eliminating dal wastage, the mill, which was previously operating at 77% efficiency, is now at 91%. By eliminating the need for a middleman between the dal farmers and the market, Ram has significantly enhanced farmers’ livelihoods. The dal mill is now profitable and Ram is working to streamline production, expand operations to include more products, and increase sales. Based on this belief, ICICI Foundation launched ICICI Fellows, a pioneering leadership programme that nurtures young talent to create a cadre of socially responsible leaders for India. This transformative programme focuses on developing Fellows’ leadership potential through perspective building and experiential learning. Fellows work on grassroots development projects with NGOs, interspersed with residential learning modules on management training and leadership development. The entire experience is designed to expand the Fellows’ knowledge, insight and commitment to inclusive growth.
ICICI Foundation ensures that the Fellows in general. Each Fellow designate is designate are supported and inspired assigned a personal coach to facilitate along their journey. Fellows designate are personal growth and development placed with NGOs that have documented through goal setting, monitoring, and track records for implementing change. counselling, and a technical mentor who They work on long-term projects that provides specific skill training to expand their NGOs specifically design for the capacity of the Fellows to contribute them to implement and explore. After to their NGOs. the successful completion of their programme, ICICI Fellows designate gain Upon completion, the ICICI Fellows are the title of ICICI Fellow. equipped to take leadership positions across all sectors – private, government Each Fellow designate is paired with a and civil society – to help India ‘take the registrations received in the first year, a mentor at his or her NGO who provides bigger step’. select group of bright young professionals insight and perspective about the were chosen to enrol in the first batch of Fellow’s project and the social sector Out of 2,000 applications and 20,000 the ICICI Fellows programme.
58 “I had always planned to go to an engineering school. Now, after I complete the Fellowship, I want to learn how different sectors can work together to help India’s poor.”
ICICI Fellow designate Akshay Nikam at his tofu microenterprise for villagers.
59 ICICI Fellows programme
“I am not just working with my village members to get a better sanitation system; I am helping them to participate, contribute and commit to their own community.”
ICICI Fellow designate Nitesh Anand
Working with the community in rural contribute a small sum to ensure their problems to the waste management Rajasthan has required Nitesh to use both ownership and build their investment team of Seva Mandir and executive his experience as an engineer and as a in the project. Each family also gives governing council of the village. member of a professional theatre troupe. a monthly sum to provide for the Building connections within the maintenance of their septic system. community is what Nitesh, who comes In Delwara village of Rajasthan, ICICI from Munger in Bihar, has found most Fellow designate Nitesh has been Nitesh’s project also works to raise the rewarding about the fellowship so far. working on waste management and societal status of the sweepers, known To help him win the confidence of the sanitation with Seva Mandir, a local as ‘Arogya Mitras’ within the community, village youth, Nitesh broadcasted the NGO. The goal of his project is to and to provide support for daily cleaning Cricket World Cup for over 500 people. promote local self-governance and of streets and drains. Monitoring these “When they lifted me on their shoulders responsible citizenship in the village of sweepers involves a comprehensive after India won the World Cup, I felt like approximately 5,000 people. Leveraging evaluation system administered by I was the winner!” He has been helping his NGO’s model of self-governance and committees with village representatives the young people in the village make empowerment for the villagers, Nitesh is and cleaning supervisors in addition to documentaries, broadcasting them on working to install 90 individual toilets for workshops and monthly meetings, which screens in the village centre, and also villagers – primarily tribal groups – who Nitesh helps to facilitate. These monthly organised a performing arts training
Meet the ICICI Fellows previously had no access to toilets. To meetings provide a platform for the workshop. construct the toilets, each family must sweepers to air their societal and family
60 Rupal is spending her ICICI Fellowship understanding finance at both the Cultivating a level of comfort with the demonstrating to tribal groups how individual and family level, has piloted villagers was essential to being able to banking works, developing new tools for a wealth management programme for discuss important issues and earn their imparting financial literacy, and training migrant households, runs women’s trust. Now, a Mewari speaker and a part the staff from Rajasthan Shram Sarathi savings and solidarity groups using metal of village life, Rupal has gained immense Association (RSSA) on cultivating piggy boxes known as gullaks, and trains understanding of the real challenges financial responsibility among migrant the RSSA staff on financial concepts, facing the rural poor.“One of our clients workers in Gogunda block of Rajasthan. the new financial literacy tools and was only able to save 53 rupees – but A graduate of the London School of counselling methods. those 53 rupees are so valuable to me Economics, Mumbai-native Rupal joined now because I know what it took for her ICICI Fellows to give herself a chance One of the key components of Rupal’s to save that much.” to make a meaningful contribution to an fellowship has been integrating herself NGO through long-term engagement with into the community, particularly migrant Since the beginning of her fellowship, she a given community. workers and their families. While migrant has led 42 financial literacy meetings with labourers are away from their villages, over 800 participants. She has signed up Her project initially involved development their wives and families are left to handle over 60 women from migrant households of a financial literacy model for migrant the family finances. Part of Rupal’s work for gullak bachhat savings and solidarity workers but after assessing the needs with RSSA helps provide these women groups – 26 of which have been linked of the community and her organisation with an understanding of their rights and with bank accounts, and conducted 13 she now also develops new tools for the ability to control their financial future. staff trainings across 3 blocks.
“One of our clients was only able to save 53 rupees – but those 53 rupees are so valuable to me now because I know what it took for her to save that much.”
ICICI Fellow designate Rupal Kulkarni
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Financials
63 Financials
REGISTRATION AND TAx STATUS
ICICI Foundation for Inclusive Growth (the “Foundation”) has been set up as a public charitable trust registered at Chennai vide registration of the Trust Deed with the Sub-Registrar’s Office at Chennai on January 04, 2008.
The Application for registration of the Foundation u/s 12AA of the Income Tax Act, 1961 (“the Act”) was filed on February 7, 2008 and the application u/s 80G of the Act was filed on February 14, 2008. Subsequently, the Foundation was registered as a “PUBLIC CHARITABLE TRUST” under Section 12AA of the Act with effect from February 7, 2008. Further, the Foundation also received approval under Section 80G(5)(vi) of Income Tax Act and was renewed on October 14, 2009 is valid in respect of all donations received by the Foundation from April 1, 2009 onwards. Accordingly, ICICI Bank and group companies will be eligible to get a deduction u/s 80G on donations made during this period.
The Foundation has also obtained its Permanent Account Number (PAN) and Tax Deduction Account Number (TAN).
k.V. kamath Rajiv Sabharwal GOVERNING COUNCIL (Chairman of the Executive Director Governing Council) ICICI Bank ICICI Foundation is governed by a Chairman council of senior executives from ICICI Bank bhargav dasgupta ICICI Group and ICICI Foundation’s Managing Director & CEO President. Chanda kochhar ICICI Lombard General Managing Director & CEO Insurance ICICI Bank Subrata mukherji Sandeep bakhshi President Managing Director & CEO ICICI Foundation ICICI Prudential Life Insurance
64 MANAGING COMMITTEE SENIOR MANAGEMENT
Subrata mukherji Subrata mukherji Chairman President n. S. kannan Chinmay Sengupta Executive Director and Chief Financial Chief Operating Officer Officer, ICICI Bank Sudhanshu joshi k. Ramkumar Senior Vice President and Head, Executive Director, ICICI Bank ICICI Foundation for Inclusive Growth - Centre for Elementary Rajiv Sabharwal Education Executive Director, ICICI Bank Prerana langa Pramod Rao Vice President – CSR and Senior General Manager, ICICI Bank Communications
Anindya banerjee Shilpa deshpande General Manager, ICICI Bank Head, ICICI Foundation for Inclusive Growth - Centre for Child Health and Nutrition
Pompy Sridhar Vice President – Outpatient Health Care
hitesh Somani Vice President – Finance
65 Financials
FUNDS FLOW
ICICI Foundation received `96.97 million from the following sources as corpus during April 1, 2010 to March 31, 2011:
(` million) Source (April 1, 2010 to March 31, 2011) Amount
ICICI Bank 61.00 ICICI Lombard General Insurance Company Limited 10.79 ICICI Venture Fund Management Company Limited 9.31 ICICI Securities Limited 12.17 ICICI Home Finance Company Limited 3.60 total 96.97
66 Disbursements made (April 1, 2010 to March 31, 2011):
(` million) Grant Beneficiaries (April 1, 2010 to March 31, 2011) Amount
ICICI Foundation Programmes CSO Partners 10.00 Digantar Shiksha Evam Khelkud Samiti 12.28 Tata Institute of Social Sciences 9.56 The America India Foundation Trust 3.00 Eklavya Foundation 6.52 Jana Sanskriti Centre for Theatre of the Oppressed 2.08 Vikramshila Education Resource Society 2.00 Centre for Learning Resources 1.81 Janagraaha Centre for Citizenship and Democracy 1.94 Education Support Organisation 1.63 Save the Children 0.90 Other Grants / Project Expenses 1.01
ICICI Group CSR Give India - ICICI Bank Read to Lead Project 26.59 Dignity Foundation 25.00 Bhavishya Alliance 1.61 Give India – Speak for Smiles 7.00 total 112.93
The Foundation also incurred total expenses of `49.48 million during this period and had a fund balance of `107.02 million (including `101.18 in FDRs) as of March 31, 2011.
67 Financials balance Sheet at march 31, 2011 (` in thousands) Schedule No. At March 31, 2011At March 31, 2010
SouRCES oF FundS: trustees’ funds : Corpus fund 1 109,686 169,032 totAl 109,686 169,032
APPlICAtIon oF FundS: Fixed assets Gross block 2 1,022 626 Less: Accumulated depreciation 590 231 Net block 433 395
Investment 3 101,182 -
Current assets, loans and advances: a) Cash and bank balances 4 5,843 164,175 b) Loans and advances 5 4,307 5,748 10,150 169,924 less: Current liabilities and provisions 6 2,078 1,287 net current assets 8,072 168,637
totAl 109,686 169,032
Significant accounting policies and 8 notes to accounts
As per our report of even date For and on behalf of the Governing Council
For khandelwal jain & Co. k. V. kamath Chartered Accountants Chairman
Shivratan Agarwal Partner S. mukherji membership no. 104180 President, ICICI Foundation for Inclusive Growth Place : mumbai date : April 6, 2011
68 Income and Expenditure Account for the year ended march 31, 2011 (` in thousands) Schedule No. For the For the year ended year ended March 31, 2011 March 31, 2010
INCOME Grants / donations received - 700 Interest income 6,066 4,611 Total 6,066 5,311
EXPENDITURE Application of funds towards object of the trust 112,926 107,886 Administrative expenses 7 49,098 20,484 Depreciation 2 359 231
Total 162,383 128,600
Surplus / (Deficit) before tax (156,317) (123,289) Provision for taxation - - Surplus / (Deficit) after tax (156,317) (123,289) Balance brought forward from previous year - 56,116 deficit transferred to Corpus Funds (156,317) (67,173)
Significant accounting policies and notes to 8 accounts
As per our report of even date For and on behalf of the Governing Council
For khandelwal jain & Co. k. V. kamath Chartered Accountants Chairman
Shivratan Agarwal Partner S. mukherji membership no. 104180 President, ICICI Foundation for Inclusive Growth Place : mumbai date : April 6, 2011
69 Financials SCHEDULE-8 Schedules forming part of Financial Statements at March 31, 2011 SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS (` in thousands) oVERVIESchedulew 1 : Corpus fund At March 31, 2011 At March 31, 2010
The ICICI OpeningFoundation Balance for Inclusive Growth has been setup as a public 169,032 charitable trust, with 10 ICICI Bank Limited as the Settlor, with the object of inter alia, catalysing and accelerating social and economic inclusion through empowerment of poor for participating in and to benefit from the Indian growth process through integrated action in the fields of primary health, elementaryAdd: Further education, contributions financial during inclusion the year and sustainable livelihood. 96,972 236,195 Less: Amount transferred from Income & (156,317) (67,173) SIGnIFICAExpenditurent ACCount AccountInG PolICIES total 109,686 169,032 a. basis of preparation of financial statements: The accompanying financial statements have been prepared under the historical cost convention in accordance with Schedule 2 -generally Fixed assets accepted accounting principles and the applicable Accounting Standards issued by the Institute of Chartered Particulars Accountants of India (“ICAI”). Gross block Depreciation Net block b. use of estimates: As on Addition Deletions As on As on For the Adjustment As on As on As on The preparation01.04.2010 of financialduring the statements during the in31.03.2011 conformity01.04.2010 with generallyyear acceptedon deletion accounting31.03.2011 principles31.03.2011 requires31.03.2010 estimates and assumptions to be yearmade thatyear affect the reported amounts of assets and liabilities on the date of the financial Computers statements and 521 the reported 290 amounts -of grants/donations 811 and 223 expenses 332 during the - reporting 555 period. Difference 255 between 298 Furniture & fixturesthe actual results 8 and estimates 55 are recognized - in64 the period in0 which 6 the results - are known 7 /materialized. 57 8 Office equipments 96 52 - 148 7 20 - 28 121 89 Total c. Revenue recognition: 626 396 - 1,022 231 359 - 590 433 395 Grants / donations are accounted on cash basis. Interest income is accounted on accrual basis. Previous year - 626 - 626 - 231 - 231 395 d. Fixed assets: Fixed assetsSchedule are stated 3: Investments at cost less accumulated depreciation.At March All costs 31, 2011 relatingAt March to the 31, acquisition 2010 and installation of fixed assets are capitalised.
e. depreciation:Fixed deposit with ICICI Bank Limited 101,182 - The Trustt providesotal depreciation on fixed assets at the rates and in the101,182 manner specified in the- Income Tax Act, 1961.
f. Prior period items: Schedule 4 : Cash and bank balances At March 31, 2011 At March 31, 2010 Prior Period items, if any, are included in the respective income and expenses and material items are disclosed by way of note. Balance with scheduled bank in savings account 5,827 164,175 Cash in hand 16 - total 5,843 164,175
70 notES to ACCountS a. Related party disclosure Schedule 5: Loans and advances At March 31, 2011 At March 31, 2010 1) Names of the related parties and nature of relationship, as identified by the Trust, are as follows: Advances recoverable in cash or kind 969 454 Sr.Prepaid No. Name expenses 500Nature of relationship 313 Interest accrued 1,837 4,611 Security1 ICICI deposits Bank Ltd. 1,001Settlor 370 total2 ICICI Trusteeship Services Ltd. 4,307Trustee 5,748 3 ICICI Prudential Life Insurance Company Ltd. Group Company of the Settlor 4 ICICI Lombard General Insurance Co. Ltd. Group Company of the Settlor Schedule5 ICICI 6: Current Venture liabilities Funds Managementand provisions CompanyAt Ltd. March 31, 2011GroupAt MarchCompany 31, 2010of the Settlor 6 ICICI Securities Ltd. Group Company of the Settlor Current7 ICICI liabilities Securities Primary Dealership Ltd. Group Company of the Settlor Sundry8 ICICIcreditors Home Finance Company Ltd. 1,322Group Company 1,165 of the Settlor Other liabilities 756 122 2) Furthertotal contribution to corpus: 2,078 1,287 (` in thousands) Particulars Current Year Previous Year Schedule 7: Administrative expenses At March 31, 2011 At March 31, 2010 ICICI Bank Ltd. 61,000 153,000 ICICISalary Prudential expenses Life Insurance Co. Ltd 29,727 Nil 12,085 65,210 ICICIProfessional Lombard & Generalconsultancy Insurance fees Co. Ltd. 3,75610,795 3,375 2,363 ICICITravel Ventures & conveyance Fund Management expenses Company Limited 5,324 9,310 1,638 Nil ICICILodging Securities & boarding Limited expenses 1,97612,268 243 Nil ICICIDesigning, Securities printing Primary & stationary Dealership expenses Ltd. 1,825 Nil 1,255 10,000 ICICILegal Home expenses Finance Company Ltd. 2,219 3,599 - 5,622 Rent 522 963 tInsuranceotal expenses 87796,972 237 236,195 3) GrantsBooks &received: periodicals 932 - Technology related expenses 546 - (` in thousands) Telephone, telex & internet expenses 637 181 Particulars Current Year Previous Year Other expenses 719 479 Audit fees 39 28 ICICI Bank Ltd. Nil 700 total 49,098 20,484 total nil 700
71 Financials 4) Interest received: • On balance in savings bank account `4,030,408 (Previous Year: `4,610,997) • On fixed deposits `2,035,290 (Previous Year: Nil)
b. Interest Income includes Nil (Previous year: `3,280,281) related to prior period. c. Previous year’s figures have been regrouped wherever necessary.
For khandelwal jain & Co. For and on behalf of the Governing Council Chartered Accountants
Shivratan Agarwal k.V. kamath S. mukherji Partner Chairman President membership no. 104180
Place: mumbai dated: April 6, 2011
72 Published by The Communications Team ICICI Foundation for Inclusive Growth design www.seshdesign.com
Photography Girish Menon ICICI Foundation (pg 40-42, 49 & 62)
44 Head office ICICI Foundation for Inclusive Growth ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051, India
registered office ICICI Foundation for Inclusive Growth 1 Cenotaph Road, Teynampet Chennai 600 018, India
Email: [email protected] www.icicifoundation.org
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