The Hindu Business Line : ICICI Bank to expand Disha initiative

Hyderabad, Sept. 2 The sixth Disha centre, an initiative from the ICICI Bank to provide financial counselling to help individuals overcome money problems and manage lives better, was launched in Hyderabad by the Regional Director, Reserve Bank of India, Hyderabad, Mr M.R. Gandhi.

The ICICI Trusteeship Services Ltd, which runs the service through the Disha Trust, started the first centre in Mumbai in April. The service, offered gratis now, will help people to understand their credit, manage debts better and overall improve their awareness about various financial products offered by the banks and other financial institutes.

The Executive Director, ICICI Bank, Mr V. Vaidyanathan, who spoke on the occasion said with the total consumer credit in India estimated at about $130-140 billion, and expected to pile up to a huge figure in the next 20 years, the bouquet of services offered by Disha, could be termed as ‘early stage financial education’.

In India, financial literacy is low. Through Disha “We intend to introduce financial literacy at the grass root level. Consumer financial has just taken root,” he added.

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