Business Daily from THE HINDU group of publications
Thursday, Jul 06, 2006
Business Daily from THE HINDU group of publications Thursday, Jul 06, 2006 |
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Money & Banking
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Private Banks Marketing - Rural Marketing
Our Bureau
Kolkata , July 5 ICICI Bank is in discussions with a number of healthcare organisations, including some with a presence in rural areas, to build a larger health insurance base. The bank, for which rural assets stand at about Rs 18,000 crore, has proposed to work out tie-ups with some of these organisations. Already, talks have taken place with Dr Devi Shetty, the well-known heart specialist. ICICI Bank, said Dr Nachiket Mor, Deputy Managing Director, is now trying to build a bigger rural asset base, for which various delivery channels (and not sales agents alone) are being deployed. "Our rural outreach programme is getting more comprehensive. The idea is to cover more districts, cutting across client segments", he told newspersons here on Wednesday. He addressed a meeting organised by FICCI in Kolkata. In West Bengal, the bank has recently facilitated a number of weavers in a certain district, a group that is known to be borrowing funds at exorbitant rates of interest. This district, incidentally, has a population as large as that of Bolivia - without many bank branches, a situation that ICICI Bank wants to change. These weavers, however, are not constrained by a lack of demand for their products (sarees). "There is increased access to finance even in rural markets. There is more affordability too. There should be no resource shortage for deserving cases... especially when credit providers have started focusing more on customer convenience", Dr Mor suggested.
In talks with Porsche The bank has talked to Porsche, the car maker, which hopes to leverage its strength with a view to selling cars in the Indian market, including some to affluent Indians living in non-metro areas, he said. He was broadly referring to the growing purchasing power of the rural rich. "We have had discussions with them", he told newspersons without divulging more on the scope of the negotiations that have taken place. According to him, at least 10 per cent of the super rich resides in rural areas, especially in certain pockets that have displayed marked changes in consumption patterns.
More Stories on : Private Banks | Rural Marketing | ICICI Bank Ltd
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