ICICI Bank Supports Armed Forces With Rs. 10 Crore

This article is powered by ICICI Bank

Fighting dust, storms and extreme weather conditions, the Indian armed forces trudge on every single day in adverse conditions. Leaving their families behind, they take up the role of guarding the nation, truly living up to the saying that ‘the Indian soldier is never off duty’.

To commemorate the sacrifices of these brave soldiers and improve the living conditions of their families, ICICI Bank has committed a financial assistance of Rs.10 crore to the Indian Armed Forces.

The first half of the contribution, which will be made in two equal tranches, one this year and the other in 2018, was made by Ms. Chanda Kochhar, MD & CEO, ICICI Bank with a cheque worth Rs.5 crore offered to the Honourable Minister of Defence, Smt. Nirmala Sitharaman.

This financial aid will be utilised for the welfare and betterment of the families of ex-servicemen, who laid down their lives to safeguard the nation.

Speaking about the initiative, Ms. Chanda Kochhar, MD & CEO, ICICI Bank expressed, “Our Indian Armed Forces bravely guard our borders and protect us. Many of these men have valiantly fought and made the ultimate sacrifice of laying down their lives for our country. While no amount of assistance is enough to fill the loss for the families, this gesture is our humble endeavour to contribute towards their betterment.

Through the various skilling initiatives which have been undertaken by ICICI Bank in the past, we have seen that the maximum impact on an individual’s life can be made by equipping him or her with skills and knowledge which enables him or her to participate in the economic opportunities in the country. Our assistance will aid the young children and widows of the soldiers to get an education thereby enabling them to gain knowledge, get a job and earn a sustainable livelihood.” added Ms. Kochhar.

This initiative will aid the young children and widows of the soldiers to not only gain education but will also enable them to become financially independent and earn a sustainable livelihood, through two main programmes.

The first programme is dedicated to helping widows of ex-servicemen complete their post-graduation, and also extending educational support to their children, while the second scheme aims to provide financial assistance towards the marriages of the daughters of the ex-servicemen.

Kendriya Sainik Board, an apex body of the Government of India, which formulates policies for resettlement and welfare of ex-servicemen and their families, will undertake the administration of the programmes. This will include allocation of funds, identification of the recipients as well as overall functioning of the programmes.

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Having a strong legacy of partnering India in its economic growth and development, this step by ICICI Bank will help promote education and employment among families, especially women and children, thereby empowering them to lead better, economically independent lives.

Ms. Kochhar signs off saying, “This is our small contribution to these daughters of the nation and our thoughts and best wishes will always remain with the families.”

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