ICICI Bank Organises ‘Jagrukta’, a Customer Awareness Programme, in Association with CIBIL and CRISIL in Pune

ICICI Bank, the country's largest private sector bank, organised a customer awareness programme, ‘Jagrukta’, in association with Credit Information Bureau Limited (CIBIL) and CRISIL. The programme aims to inform the owners of commercial vehicles about the importance of maintaining a healthy credit record. Around 100 owners of commercial vehicles attended the programme held in the city.

Speaking on the initiative, Mr. Rajiv Sabharwal, Executive Director, ICICI Bank said, “ICICI Bank has always been at the forefront in offering programmes for the benefit of customers, in line with our philosophy of ‘Khayaal Aapka’. ‘Jagrukta’ is an informative programme to answer all the queries of the participants on their credit worthiness. In today’s world, it is important for an individual to understand his credit worthiness. We are delighted to know that participants who had attended ‘Jagrukta’ in the past have improved their credit worthiness by applying the knowledge they acquired from the programme.”

Mr. Arun Thukral, Managing Director, CIBIL, added, "Today the CIBIL report and the CIBIL TransUnion Score have become the most crucial indicator of an individual's financial discipline. It is vital for consumers to understand the importance of maintaining a good credit history by paying their loan EMIs and credit card dues regularly. CIBIL is committed towards consumer education on credit information and we are running several consumer education initiatives across platforms.  Our partnership with ICICI Bank on Jagrukta is a reinforcement of our commitment and we believe this is a vital step towards inculcating financial discipline and driving financial inclusion in our country"

Mr. Sameer Bhatia, President, CRISIL Infrastructure Advisory said, “CRISIL Infrastructure Advisory is proud to be part of ‘Jagrukta’. We provide truck owners and operators with market insights on industry growth, trends and best practices. In the highly competitive road transport sector in India, this is an invaluable input to them. In a way, CRISIL is helping the commercial vehicle owners and operators to improve profitability and efficiency, and expand their operations in a focused manner.”

The participants were guided by the officials of ICICI Bank, CIBIL and CRISIL on various important parameters including:

• Importance and ways to improve credit worthiness

• Understand market opportunities and expand operations

• Benefits of credit scores and market insights to help them grow business

• Settlements and its impact on credit score

• Growth outlook and opportunities for the industry

This programme, which is a first-of-its-kind initiative was launched by the Bank 30 months back.  The Bank has conducted the programme across the country including in cities like Delhi, Mumbai, Indore, Vijaywada, Nagpur, Jaipur, Salem and Namakkal.

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About ICICI Bank Ltd

ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank with consolidated total assets of US $ 124.76 billion at March 31, 2014. Its subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. The Bank's presence spans 18 countries, including India.

About CIBIL

CIBIL collects and maintains records of an individual‘s payments pertaining to loans and credit cards. These records are submitted to CIBIL by banks and other lenders, on a monthly basis. This information is then used to create Credit Information Reports (CIR) and CIBIL TransUnion Score which are provided to lenders in order to help evaluate and approve loan applications. The range of the CIBIL TransUnion Score is between 300 to 900, where a score closer to 900 indicates the least risky borrower and lowest chance of the borrower defaulting on any line of credit. CIBIL data also indicates that more than 90% of new credit is sanctioned to borrowers above a score of 700. It is therefore crucial for the consumers to understand their credit history and know the parameters that impact their credit score.

About CRISIL

CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. It is also India's leading ratings agency. It is one of the foremost provider of high-end research to the world's largest banks and leading corporations. CRISIL's majority shareholder is Standard and Poor's (S&P). Standard & Poor's, a part of McGraw Hill Financial (formerly The McGraw-Hill Companies) (NYSE:MHFI), is the world's foremost provider of credit ratings.)

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For Press Queries:

Kausik Datta

DGM & Head - Corporate Communications

ICICI Bank Ltd.

Mumbai – 51

Email - datta.kausik@icicibank.com