Corporate Social Responsibility (CSR) has been a long-standing commitment at ICICI Bank. The Bank’s contribution to social sector development includes several pioneering interventions and is implemented through the involvement of stakeholders within the Bank and through the broader community. The Bank established the ICICI Foundation for Inclusive Growth (ICICI Foundation) in 2008 with a view to significantly expand the activities in the area of CSR. Over the last few years ICICI Foundation has developed significant projects in specific areas, and has built capabilities for direct project implementation as opposed to extending financial support to other organisations.
CSR Project or Activity
1) Projects of ICICI Foundation for Inclusive Growth ( Amount spent on the projects 1,745 INR mn)
- Promoting education, awareness, employment, enhancing vocational skills, livelihood enhancement projects
- 22 skill training centres located in Bengaluru, Bhubaneswar, Chennai, Coimbatore, Delhi, Durg, Guwahati, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Lucknow, Mumbai, Mysore, Nagpur, Narsobawadi, Patna, Pune, Trichy, Vijaywada and Zirakpur.
- Eradication of hunger, poverty and malnutrition; promoting preventive healthcare through:
- Elementary education projects in Rajasthan and Chhattisgarh.
- Healthcare programmes including in Baran (Rajasthan).
2) Rural development and other related projects (Amount spent on the projects 4,678.6 INR mn)
- Rural development contribution done directly and through bank’s business correspondent network.
3) Contribution towards armed forces welfare (Amount spent on the projects 50 INR mn)
- Measures for the benefit of armed forces veteran, war widows and their dependents by contribution made through Armed Forces Flag Day Fund and Kendriya Sainik Board.
4) Financial literacy (Amount spent on the projects 56.2 INR mn)
- Disha Trust set up to assist consumers in financial distress and provide counselling.
5) Miscellaneous (Amount spent on the projects 71.3 INR mn)
- This includes Women empowerment, promoting education, promoting healthcare, awareness campaign, Swachh Bharat, environment protection
India Avenue is a boutique investment management firm providing investment solutions that allow our clients to benefit from India’s remarkable growth story.
OUR BUSINESS
2005
The journey towards the “birth” of India Avenue originated in 2005, when ING Investment Management started a business in India as a separate division, utilising a practiced multi-manager philosophy in markets like Australia, and exported it to India. Three of our founders, Mugunthan Siva, Rajeev Thakkar and Sajjan Raut Desai worked together for INGIM (India), building investment strategies and structures, under this philosophy and applying them to Indian capital markets
2011
In 2011 our founders started discussing the possibility of building an investment firm with a capability to provide a focus on India as an stand-alone investment jurisdiction for foreign investors. The founders identified Australia and New Zealand as nascent markets for investing in regional locations, with the potential to accelerate given education and insights which the firm could provide.
2015
By 2015 the group of founders decided to work full-time on this concept to bring it to life. They did this by leaving their existing employment, thus exercising high conviction in the investment region of India as a long-term structural story for investors in Australia and New Zealand. Thus, the firm India Avenue Investment Management was registered and came to life in 2015 in Sydney, Australia.
2016
After building our business for a period of 12 months, our first fund, The India Avenue Equity Fund was launched on 6th September 2016, with strong service provider partners like Equity Trustees (RE), Mainstream (Fund Administrator), KPMG (Fund Auditor) and BNP India (Custodian).
NOW
India Avenue is now a boutique investment business firm, with clients spread across family offices, high net worth individuals, wealth advisers and financial planning firms. Our firm has focused on education and knowledge as a driver of investment behaviour and have taken a long-term approach towards Australian and New Zealand investors contemplating an allocation to India’s growth as part of their portfolios. Our firm has assets in excess of A$50m and the India Avenue Equity Fund is rated “Recommended”* by Lonsec and is available on multiple investment platforms across Australia and New Zealand.