Annual Report 2020-21

BUSINESS RESPONSIBILITY REPORT

[Pursuant to Regulation 34(2)(f) of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015]

SECTION A: GENERAL INFORMATION ABOUT SECTION B: FINANCIAL DETAILS OF THE

THE COMPANY COMPANY
1.
Corporate Identity Number (CIN) of the 1. Paid up Capital: ` 13.83 billion
Company: L65190GJ1994PLC021012 2. *Total Turnover: ` 980.87 billion
2. Name of the Company: ICICI Bank Limited *Total turnover represents the sum of “Interest earned”
3. Registered address: ICICI Bank Tower, Near (Schedule 13 of the financial statements) and “Other
Chakli Circle, Old Padra Road, Vadodara-390 007, income” (Schedule 14 of the financial statements).
Gujarat, India. 3. Total profit after taxes: ` 161.93 billion
4. Website: www.icicibank.com 4.
Total Spending on Corporate Social
5. E-mail id: [email protected] Responsibility (CSR) as percentage of profit
after tax (%)
6. Financial Year reported: 2020-2021 The Bank has spent ` 2005.0 million, or 2.2% of its
7.
Sector(s) that the Company is engaged in average net profits of the preceding three financial
(industrial activity code-wise): years towards CSR activities in fiscal 2021. Disclosures
Code: 64191-ICICI Bank Limited (ICICI Bank/the Bank) as prescribed under the Companies (Corporate Social
Responsibility Policy) Amendment Rules, 2021 have
is a banking company governed by the Banking
been made in the Annual Report for the year ended
Regulation Act, 1949.
March 31, 2021 (FY2021).
8.
List three key products/services that the
Company manufactures/provides: 5.
List of activities in which expenditure in 4
above has been incurred:
ICICI Bank, is engaged in providing a wide range

The Bank’s CSR spends during fiscal 2021 were
of banking and financial services including retail
towards Covid-19 relief efforts, skill development,
banking, corporate banking and treasury operations.
rural livelihoods, social and environmental projects,
9.
Total number of locations where business rural development and related activities, promoting
activity is undertaken by the Company education, disaster management in cyclone impacted
(a) Number of International Locations (Provide districts, awareness campaign on social and
details of major 5) environmental issues through display of relevant
messages, promoting hygiene and waste management,
ICICI Bank has banking subsidiaries in the United
providing drinking water and financial literacy and
Kingdom and Canada, branches in Bahrain,
counselling.
China, Dubai International Financial Centre, Hong
Kong, Singapore, South Africa, and the United SECTION C: OTHER DETAILS
States, and representative offices in Bangladesh,
1.
Does the Company have any Subsidiary
Indonesia, Malaysia, Nepal and the United Arab
Company/Companies?
Emirates. ICICI Bank’s subsidiary in the United
Kingdom also has a branch in Germany. Yes

(b) Number of National Locations 2.

Do the Subsidiary Company/Companies
participate in the BR Initiatives of the parent
At March 31, 2021, ICICI Bank had a network
company? If yes, then indicate the number of
of 5,266 branches with presence in over 3,025
such subsidiary company(s)
locations in India.

The major domestic subsidiaries of the Bank
10. Markets served by the Company – Local/State/ contribute to the corpus of ICICI Foundation for
National/International Inclusive Growth and towards disaster management

ICICI Bank serves customers in national and including relief and welfare. Some subsidiaries also
international locations. undertake additional activities independently.

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3.
Do any other entity/entities (e.g. suppliers, Voluntary Guidelines (NVGs) on social,
distributors etc.) that the Company does environmental and economic responsibilities of
business with, participate in the BR initiatives business which are applicable.
of the Company? If yes, then indicate the
1. DIN: 03620913
percentage of such entity/entities? [Less than
30%, 30-60%, More than 60%] 2. Name: Mr. Sandeep Batra

No 3. Designation: Executive Director

(b) Details of the BR head
SECTION D: BR INFORMATION
1. DIN (if applicable): Not Applicable
1. Details of Director/Directors responsible for BR
2. Name: Mr. Ranganath Athreya
(a) Details of the Director/Directors responsible
3. Designation: Company Secretary
for implementation of the BR policy/policies
4. Telephone Number: +91-22-2653 6709
The Company has in place the policies and
processes to address principles of the National 5. E-mail id: [email protected]

2. Principle-wise (as per NVGs) BR Policy/policies

The NVGs on social, environmental and economic responsibilities of business prescribed by the Ministry of Corporate
Affairs advocates the nine principles (detailed below) as P1-P9 to be followed:

P1 Businesses should conduct and govern themselves with Ethics, Transparency and Accountability
P2 Businesses should provide goods and services that are safe and contribute to sustainability throughout their
life cycle
P3 Businesses should promote the well being of all employees
P4 Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who
are disadvantaged, vulnerable and marginalised
P5 Businesses should respect and promote human rights
P6 Business should respect, protect, and make efforts to restore the environment
P7 Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner
P8 Businesses should support inclusive growth and equitable development
P9 Businesses should engage with and provide value to their customers and consumers in a responsible manner

The principle wise responses are mentioned in the Annexure to this report.

3. Governance related to BR The Bank has adopted the principles of the

(a)
Indicate the frequency with which the International Integrated Reporting Framework
Board of Directors, Committee of the Board as developed by the International Integrated
or CEO to assess the BR performance of the Reporting Council which covers the business
Company. Within 3 months, 3-6 months, responsibility practices in the Bank. The Bank
Annually, More than 1 year has also been publishing an Environmental,
Social and Governance Report (ESG Report).
Annually
The Integrated Report and the ESG Report for
(b)
Does the Company publish a BR or fiscal 2021 are hosted on the website of the Bank
a Sustainability Report? What is the https://www.icicibank.com/aboutus/annual.html.
hyperlink for viewing this report? How
frequently it is published? SECTION E: PRINCIPLE-WISE PERFORMANCE
The Bank publishes the BR Report annually. The Principle 1
hyperlink for viewing the report is https://www. 1. Does the policy relating to ethics, bribery and
icicibank.com/aboutus/annual.html. corruption cover only the company? Yes/No.

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Does it extend to the Group/Joint Ventures/ initiatives, oversees the functioning of the CSC and
Suppliers/Contractors/NGOs/Others? evolves innovative measures for enhancing the
The Bank is committed to acting professionally, fairly quality of customer service and improvement in the
and with integrity in all its dealings. The Bank, through overall satisfaction level of customers. During fiscal
the Group Code of Business Conduct & Ethics, has 2021, 28,549 complaints were outstanding at the
adopted a ‘zero-tolerance’ approach to bribery beginning of the year and 482,213 complaints were
and corruption. The Bank has put in place an ‘Anti- received during the year, and of this total 480,666
Bribery and Anti-Corruption Policy’, which sets forth complaints have been resolved.
obligations on part of every employee for prevention, Principle 2
detection and reporting of any act of bribery or 1. List up to 3 of your products or services whose
corruption. The Group Code of Business Conduct & design has incorporated social or environmental
Ethics which captures the behavioural and ethical concerns, risks and/or opportunities:
standards along with the ‘zero tolerance’ towards

The Bank’s business operations are conducted
bribery covers all group companies of the Bank. The
keeping in mind the environmental limits and
Code is applicable to Directors and employees of the
ensuring ongoing efficiency gains. The Bank has a
Bank as well as the Directors and employees of the
Board approved Environment, Social and Governance
group companies.
Framework integrating the various policies and
2.
How many stakeholder complaints have been approaches of the Bank. The Bank encourages its
received in the past financial year and what customers to adopt digital modes for their banking
percentage was satisfactorily resolved by the activities and offers financial products and services
management? If so, provide details thereof, in that are end-to-end digitally processed. The Bank has
about 50 words or so. a social and environmental management framework
45 investor complaints were received in fiscal 2021. that integrates analysis of the environmental and
As at March 31, 2021, one complaint was pending social risk assessment into the overall credit appraisal
which has been subsequently addressed. process for new financing proposals. The Bank’s rural
banking operation caters to the financial requirements
With respect to employees, the Bank has a mechanism
of customers in rural and semi-urban locations and
as provided under the Whistle Blower Policy whereby
also meet the larger goals of social empowerment
employees can raise their concerns. The status of
and development. Some key initiatives include the
these cases including the manner in which they are
support given to self-help groups that is promoting
dealt with, is periodically reviewed and reported to
entrepreneurship among women, solutions developed
the Audit Committee.
for farmers and support to government schemes.
The Bank is committed to the core principle of
The Bank through a dedicated group assists projects
“Fair to Customer, Fair to Bank”, and seeks to treat
that relate to areas such as biodiversity, environmental
its customers fairly and provide transparency in
sustainability and initiatives in education, health,
its product and service offerings. The Bank makes
sanitation and livelihoods. The team’s mandate is
continuous efforts to educate its customers to enable
to administer funding lines received from bilateral/
them to make informed choices regarding banking
multilateral agencies/Government of India, specifically
products and services. The Customer Service
for such projects. Their efforts include identifying
Council (CSC) of the Bank functions as the Standing
relevant projects, ensuring financial assistance
Committee on Customer Service. The CSC is chaired
through collaboration or directly and knowledge
by a Wholetime Director. Business Heads and the
sharing.
Heads of related departments are members of the
CSC. The CSC focuses on building and strengthening The ICICI Foundation for Inclusive Growth focuses
customer service orientation in the Bank through primarily on skill development for sustainable
various measures including simplifying processes for livelihoods, rural livelihoods and social and
improvement in customer service levels. The Board environmental projects. In response to the Covid-19
of the Bank has constituted a Customer Service crisis, the Bank and ICICI Foundation provided support
Committee which reviews the customer service to several states/union territories by facilitating

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supply of critical materials like masks, sanitisers and For details, please refer to the “Natural Capital”
personal protective equipment. chapter in the Integrated Report section of the Annual
Report for FY2021.
For details relating to these initiatives, please refer
the “Social and Relationship Capital” chapter and Principle 3
the “Natural Capital” chapter in the Integrated Report 1. Please indicate the Total number of employees:
section of the Annual Report for FY2021.
The Bank had 98,750 employees (including
2. For each such product, provide the following contractual employees) at March 31, 2021.
details in respect of resource use (energy, 2. Please indicate the Total number of employees
water, raw material etc.) per unit of product hired on temporary/contractual/casual basis:
(optional):
The Bank had 267 employees at March 31, 2021 on
Considering the nature of business of the Bank and
fixed term contract.
the products/initiatives referred to above, some of
the questions below are not applicable to the Bank. 3.
Please indicate the number of permanent
women employees:
(a)
Reduction during sourcing/production/
distribution achieved since the previous year The Bank had 31,059 women employees at March 31,
throughout the value chain? 2021.
NA 4.
Please indicate the number of permanent
(b) Reduction during usage by consumers (energy,
employees with disabilities:
water) has been achieved since the previous The Bank does not specifically track the number of
year? disabled employees. The Bank is an equal opportunity
Please refer to the response under Principle 6. employer and treats all employees at par. The Bank
aims to support any employee during personal
3. Does the company have procedures in place for medical exigencies that may arise. However, based
sustainable sourcing (including transportation)? on the income tax declarations which enable claiming
If yes, what percentage of your inputs was income tax deduction for self-disability, the Bank had
sourced sustainably? Also, provide details 88 such employees.
thereof, in about 50 words or so.
5. Do you have an employee association that is
NA
recognised by management:
4.
Has the company taken any steps to procure No
goods and services from local & small producers,
including communities surrounding their place 6. What percentage of your permanent employees
of work? If yes, what steps have been taken to are members of this recognised employee
improve their capacity and capability of local association?
and small vendors? NA
NA 7.
Please indicate the number of complaints
5. Does the company have a mechanism to recycle relating to child labour, forced labour,
products and waste? If yes what is the percentage involuntary labour, sexual harassment in the
of recycling of products and waste (separately last financial year and pending, as on the end
as <5%, 5-10%, >10%). Also, provide details of the financial year.
thereof, in about 50 words or so. The Bank does not engage in any form of child labour/

The waste generated at the Bank’s offices are forced labour/involuntary labour and does not adopt
managed as per the waste disposal process. The any discriminatory employment practices. The Bank
Bank has procedures in place to dispose off e-waste has a policy against sexual harassment and a formal
through authorised e-waste vendors. There are process for dealing with complaints of harassment or
sewage treatment plants at two of our large offices discrimination. The sexual harassment policy is in line
where waste water is entirely treated & re-utilised for with the requirements under the Sexual Harassment
gardening, flushing & cooling tower requirements. of Women at Workplace (Prevention, Prohibition and

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Redressal) Act, 2013. The Bank, through the policy office locations so that employees do not mingle
ensures that all such complaints are resolved within with anyone outside their zones. Offices having Air
defined timelines. Handling Units for air-conditioning were retrofitted/
replaced with best-in-class air conditioning filters
The details pertaining to number of complaints during
as applicable to the premise to provide clean and
the year has been provided below:
hygienic air in the office premises to restrict spread
(a) number of complaints filed during the financial of any virus. Transparent plexiglass partition/sneeze
year: 33
guard has been fitted across most customer handling
(b)
number of complaints disposed of during the branches as well as customer-facing desks in
financial year: 33 non-branch premises for the safety of employees
number of complaints pending1 at end of the
(c) and customers.
financial year: Nil
The Bank continued its regular safety measures such
1 A
ll complaints received during FY2021 have been closed as the Quick Response Team (QRT), to respond to
within the applicable turnaround time (90 days).
women employees if in distress while commuting.
8.
What percentage of your under mentioned Each QRT is a specially equipped vehicle. It is GPS
employees were given safety and skill enabled and carries a stretcher and fire extinguishers
upgradation training in the last year? along with a team trained to deal with medical and
(a) Permanent employees (b) Permanent personal safety related emergencies. The Bank has
women employees (c) Casual/Temporary/ also made available iTravelSafe, a mobile application,
Contractual employees (d) Employees with to its employees, which can be used to send distress
disabilities alerts to the Bank’s heIpline for assistance, if the
need arises.
Employee health and safety is of prime importance
to ICICI Bank. The Covid–19 pandemic presented The Bank continues to focus on capability building.
the Bank with a situation where it had to enable The Bank has learning centres where training
continuity in service to customers and ensure the programmes, designed to meet the changing skill
safety and well-being of all our employees working in requirements of its employees are conducted.
around ~5,500 branches and offices across different Orientation sessions for new employees, role
locations in the country. Wherever an employee specific functional academies and capability-building
was found to be Covid–positive, the Bank ensured programmes, leadership mentoring programmes and
that emotional, medical and physical support were professional development programmes for junior
provided to employees on a real time basis through level to senior executives all form part of the trainings
contact tracing, a Covid-19 helpline, and specialized conducted. Employees are also provided access
medical care and institutional quarantine facilities to a suite of e-learning modules. In fiscal 2021, the
through tie-ups with the best hospitals across the Bank delivered average of around 53 learning hours
country. Constant communication and advisory per employee.
on “Norms of New Normal” was established and
Principle 4
circulated through various channels like microsites,
SMS, WhatsApp groups, video messages, e-mails, 1.
Has the company mapped its internal and
audio calls and the mobile app, UOTM to ensure external stakeholders? Yes/No
that the advisory reaches every employee and gets Yes
reinforced in their behaviour. Office protocols were
put in place quickly to ensure safety of employees. 2. Out of the above, has the company identified
Masks, sanitization, fumigation and social distancing the disadvantaged, vulnerable & marginalised
were made mandatory across premises. Contactless stakeholders.
documentation was put in place for mail delivery The Bank is guided by Reserve Bank of India (RBI)
as well as at currency chest. Signage and posters prescribed guidelines on priority sector lending,
were put in various places in the tower locations to lending to small and marginal farmers, lending to
reinforce safety norms. Maximum capacity for each weaker section etc., and government-led initiatives to
of the offices/big branches were determined and improve access to financial services, and insurance
zones were established and implemented across and pension cover for reaching out to disadvantaged,

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vulnerable and marginalised stakeholders. ICICI covers aspects like good & fair banking practices,
Foundation engages with the under-privileged youth transparency in services & products, high operating
and rural communities for providing skill training and standards, cordial relationship with consumers &
improving livelihoods. measures which build confidence of the consumer in
the banking system.
3. Are there any special initiatives taken by the
The Bank also seeks to ensure that there is no
company to engage with the disadvantaged,
discrimination in selection of suppliers and vendors,
vulnerable and marginalized stakeholders. If
and also seeks compliance of vendors with national
so, provide details thereof, in about 50 words
laws, including child labour.
or so.
ICICI Foundation undertakes a number of initiatives 2. How many stakeholder complaints have been
for the under-privileged, including a large scale skill received in the past financial year and what
development initiative. Till March 31, 2021, over percent was satisfactorily resolved by the
580,000 individuals have been provided skill training management?
by ICICI Foundation. The rural livelihood initiative Please refer response to question number 2 under
of ICICI Foundation is focused on value chain and Principle 1.
entrepreneurship development and supporting Principle 6
activities that benefit the local communities and the
1. Does the policy related to Principle 6 cover
environment. The Bank’s rural banking operation
only the company or extends to the Group/
caters to the complete financial requirements
Joint Ventures/Suppliers/Contractors/NGOs/
of customers in rural and semi-urban locations,
others.
primarily engaged in agriculture and related activities
and supporting self-help groups that are promoting Given the nature of business of the Bank, the aspects
entrepreneurship among women. The Bank is taking outlined under Principle 6 are applicable to its credit
steps to enable easier access to the Bank’s branches portfolio and to its own operations. The Bank has a
and ATMs for the physically challenged and is also social and environmental management framework
providing facility for the visually challenged to transact that integrates analysis of the environmental and
at ATMs. The Bank is currently offering doorstep social risk assessment into the overall credit appraisal
banking service to senior citizens, differently abled process for all new financing proposals. The Bank
or infirm persons (having medically certified chronic complies with applicable environmental regulations
illness or disability) including visually impaired. The in respect of its premises and operations. Further, the
Bank through a dedicated Group has supported/ Bank participates in initiatives towards addressing
granted assistance to entities engaged in a number environmental issues. For details please refer to the
of activities that benefit the underprivileged and the “Natural Capital” chapter in the Integrated Report
differently-abled. section of the Annual Report for FY2021.
2. Does the company have strategies/initiatives
Principle 5 to address global environmental issues such
1.
Does the policy of the company on human as climate change, global warming, etc? Y/N.
rights cover only the company or extend to the If yes, please give hyperlink for webpage etc.
Group/Joint Ventures/Suppliers/Contractors/ Yes.
NGOs/Others?

The Bank is committed to responsibly conduct
The Bank’s philosophy of non-discrimination among
its business. The Bank has in place a social and
employees, meritocracy and mechanisms for
environmental management framework that
redressal of employee issues applies across the Bank
integrates analysis of the environmental and social
and its subsidiaries. It does not engage in any form
risk assessment into the overall credit appraisal
of child labour and does not violate any principles
process. Efforts on prudent use of natural resources is
relating to human rights.
ongoing, which includes increasing use of renewable
ICICI Bank follows the code issued by The Banking energy sources, maintaining efficiency in operations
Codes and Standards Board of India which and energy consumption and adopting sustainable

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banking practices. The Bank uses renewable energy Bank actively pursues opportunities to adopt new
at its premises wherever feasible. At March 31, technologies and energy efficient practices in our
2021, the total renewable power capacity installed operations to reduce our operational emissions.
by the Bank at its premises was 2.9 MWp. Under the A recent effort undertaken was for replacing diesel
open access mechanism for power sourcing, the generating sets with lithium ion battery storage
Bank has signed power purchase agreements (PPA) system at branches to enhance reliability and improve
for solar and wind energy purchase for three of its energy efficiency. Another effort was replacing carbon
large offices. The Bank adopts Indian Green Building dioxide based fire extinguishers with Clean Agent fire
Council (IGBC) defined green building features in all extinguishers at the Bank’s branches that are less
its new offices and branches. damaging to the environment. For details, please
For further details, please refer to the “Natural Capital” refer to the Environmental, Social and Governance
chapter in the Integrated Report section of the Annual Report for FY2021.
Report for FY2021. 6.
Are the Emissions/Waste generated by the
3. Does the company identify and assess potential company within the permissible limits given
environmental risks? Y/N by CPCB/SPCB for the financial year being
reported?
Responsible financing is an important focus area
for the Bank and incorporates assessment of The Bank complies with applicable environmental
environmental and social risks. The Bank has in place regulations in respect of its premises and operations.
a social and environmental management framework 7. Number of show cause/legal notices received
that integrates analysis of the environmental and from CPCB/SPCB which are pending (i.e. not
social risk assessment into the overall credit appraisal resolved to satisfaction) as on end of Financial
process. The framework is applicable for all new Year.
financing proposals above a specified threshold.
There were no outstanding notices at March 31, 2021.
The key elements of the assessment include an
exclusion list, seeking a declaration from borrowers Principle 7
of compliance with applicable national environmental 1. Is your company a member of any trade and
guidelines/approvals for qualifying proposals subject chamber or association? If Yes, Name only
to threshold criteria defined in the framework, and those major ones that your business deals
due-diligence by a Lender’s Independent Engineer with:
(LIE) for large-ticket project loans identified as per the
The Bank is a member of various trade bodies and
criteria defined in the framework.
associations such as the Indian Banks’ Association
4. Does the company have any project related to and Confederation of Indian Industry in India and
Clean Development Mechanism? If so, provide the Institute of International Finance. The senior
details thereof, in about 50 words or so. Also, management of the Bank participates as members of
if Yes, whether any environmental compliance committees constituted by government, regulators
report is filed? and industry bodies.
The above question is not applicable to the Bank 2.
Have you advocated/lobbied through
as it is not a manufacturing company. However, the above associations for the advancement or
Bank assists projects that promote bio-diversity and improvement of public good? Yes/No; if yes
environmental sustainability and projects that reduce
specify the broad areas (drop box: Governance
greenhouse gas emissions.
and Administration, Economic Reforms,
5.
Has the company undertaken any other Inclusive Development Policies, Energy
initiatives on – clean technology, energy security, Water, Food Security, Sustainable
efficiency, renewable energy, etc. Y/N. If yes, Business Principles, Others)
please give hyperlink for web page etc. The Bank, through trade bodies and associations,

The Bank’s commitment to energy efficiency puts forth a number of suggestions with respect
and adopting environment-friendly practices in to the economy in general and the banking sector
its operations remains a primary objective. The in particular. During the Covid-19 pandemic, the

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Bank engaged with regulators and trade bodies and and several hospitals were supplied ventilators. State
participated in discussions to mitigate the economic government efforts were supplemented by assisting
consequences of the pandemic. The Bank, directly, the creation of mobile and web-based tracking
and along with ICICI Foundation, has been working systems for some states and also a war room. These
on several initiatives for promoting inclusive growth. efforts were in over 550 districts across 36 states/
In this effort, we partner with state governments union territories.
and other organisations in the areas of education
healthcare, skill development, livelihoods, rural The Bank pursues initiatives in the area of rural
development and social & environmental projects. development, including efforts to improve financial
inclusion, empowering women and supporting
The Wholetime Directors and members of senior the agricultural economy. For details, please refer
management participate in various committees/ to the “Social and Relationship Capital” chapter in
working groups constituted by the Government of the Integrated Report section of the Annual Report
India and the RBI. for FY2021.
Principle 8
2.
Are the programmes/projects undertaken
1 Does the company have specified programmes/ through in-house team/own foundation/
initiatives/projects in pursuit of the policy external NGO/government structures/any
related to Principle 8? If yes details thereof. other organization?
The major initiatives taken up are in the areas of The projects/programmes are undertaken primarily
skill development through the ICICI Foundation through in-house teams and the ICICI Foundation,
for Inclusive Growth (ICICI Foundation) and rural with the assistance of implementation partners as
development initiatives. The skill training initiatives required.
of ICICI Foundation include the ICICI Academy for
Skills (skill academies) operating 28 vocational 3. Have you done any impact assessment of your
training centres across 21 states/union territory, initiative?
the Rural Livelihood programme focused on value Periodic reviews are undertaken on various projects/
chain and entrepreneurship development that has initiatives. During fiscal 2021, the Bank conducted
covered over 2,000 villages and two Rural Self- impact assessment for three major CSR activities.
Employment Training Institutes (RSETIs) providing These are the skill development initiative under the
vocational training to rural youth from economically ICICI Academy for Skills conducted through ICICI
weaker sections. On a cumulative basis, over Foundation, and the rural development activities
580,000 individuals were provided skill training till and social awareness programme, implemented
March 31, 2021, thus facilitating employability and directly by the Bank. A summary of the findings of
ensuring a meaningful increase in the livelihood of the impact assessment studies is provided in the
these individuals. ICICI Foundation is also involved
Annual Report on CSR activities forming part of
in social and environmental projects, which involves
Annual Report for FY2021. The impact assessment
supporting activities for sustainable development.
reports are also available on the Bank’s website
The efforts made in the villages apart from
at https://www.icicibank.com/aboutus/corporate-
facilitating job opportunities and marketability, has
social-responsibility.page?#toptitle.
also promoted sustainable practices, improving
agricultural productivity and local entrepreneurship, 4. What is your company’s direct contribution to
including among women. community development projects - Amount in
In the fight against the Covid-19 pandemic, the Bank INR and the details of the projects undertaken.
and ICICI Foundation were involved in direct on-the- The Bank has spent ` 2,005.0 million in FY2021 on
ground efforts. A district-level outreach was facilitated corporate social responsibility related activities.
to provide essential support. The efforts involved The expenditure has been primarily in the areas
engaging with frontline staff like doctors, police, of Covid-19 relief efforts, skill development, rural
district administration, para-military forces, and livelihoods, social and environmental projects,
others. Essential supplies were provided including rural development and related activities, promoting
masks, sanitisers and personal protective equipments education, disaster management in cyclone

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impacted districts, awareness campaign on social 3.

Is there any case filed by any stakeholder
and environmental issues through display of against the company regarding unfair trade
relevant messages, promoting hygiene and waste practices, irresponsible advertising and/or
management, providing drinking water and financial anti-competitive behavior during the last five
literacy and counselling. years and pending as on end of financial year.
If so, provide details thereof, in about 50 words
5.
Have you taken steps to ensure that this
or so.
community development initiative is
successfully adopted by the community? In the ordinary course of banking business, several
Please explain in 50 words, or so. customers and borrowers have disputes with the
Bank which could result in their filing a civil suit,
Community development forms the core for all
criminal complaint or a consumer complaint alleging
initiatives undertaken by the Bank. The programmes
deficiency of services. The Bank always strives to have
of ICICI Foundation are designed to address the needs
a cordial relationship with its customers/borrowers
of each target population and the local economy.
and attempts to have an amicable settlement of the
ICICI Foundation encourages the active engagement dispute but in some cases the Bank needs to pursue
of key stakeholders such as governments, NGOs, legal resolution of the same.
Panchayati Raj Institutions (PRIs), communities and
other local institutions in the project planning and 4.
Did your Company carry out any consumer
implementation to facilitate developing and building survey/consumer satisfaction trends?
community ownership while ensuring sustainability
The Bank on a continuous basis measures the
of the programmes. Initiatives in the areas of rural advocacy and satisfaction levels of customers across
development and social projects also encourages key products and touch points. As part of this exercise,
community participation at the village level and which is referred to as Net Promoter Score (NPS), the
are focused on providing opportunities to target customer’s likelihood to recommend, satisfaction
beneficiaries to improve their livelihood. levels with the product/transaction experience and
voice of customer are measured. Approximately
Principle 9 260,000 customers are covered every month for
1.
What percentage of customer complaints/ their feedback. This feedback is then analysed and
consumer cases are pending as on the end of the insights from the same are implemented to
financial year. improve the products and processes and enhance
The Bank resolved 98.8% of customer complaints/ the service of the Bank. Besides, the Bank also
consumer cases during fiscal 2021. conducts detailed Customer Satisfaction Studies
(C-SAT) for its key products and customer segments.
2. Does the company display product information In this, detailed feedback regarding the product
on the product label, over and above what is and channel experiences is captured from existing
mandated as per local laws? Yes/No/N.A./ customers of the Bank and competition customers. In
Remarks (additional information). addition, extensive diagnostic researches in specific
This aspect is not applicable as the Bank is not a areas are conducted on a regular basis. The focus of
manufacturing company. The Bank complies with these researches is to identify areas of improvement
disclosure requirements relating to its products in the products and services of the Bank and define
and services. appropriate action points for improvement.

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Annexure
(a) Details of compliance (Reply in Y/N)
Sr. Questions P1- P2- P3- P4- P5- P6- P7- P8- P9-
No. Please Please Please Please Please Please Please Please Please
refer refer refer refer refer refer refer refer refer
Note P1 Note P2 Note P3 Note P4 Note P5 Note P6 Note P7 Note P8 Note P9
1 Do you have a policy/ Y Y Y Y Y Y N Y Y
policies for....
2 Has the policy Y Y Y Y Y Y - Y Y
been formulated in
consultation with the
relevant stakeholders?
3 Does the policy Y Y Y Y Y Y - Y Y
conform to any
national /international
standards? If yes,
specify? (50 words)
4 Has the policy been Y Y Y Y Y Y - Y Y
approved by the
Board?* If yes, has it
been signed by MD/
owner/CEO/appropriate
Board Director?
5 Does the Company have Y Y Y Y Y Y - Y Y
a specified committee
of the Board/Director/
Official to oversee the
implementation of the
policy?
6 Indicate the link for the Y Y Y Y Y Y - Y Y
policy to be viewed
online?
7 Has the policy been Y Y Y Y Y Y - Y Y
formally communicated
to all relevant
internal and external
stakeholders?
8 Does the company have Y Y Y Y Y Y - Y Y
in-house structure to
implement the policy/
policies.
9 Does the Company have Y Y Y Y Y Y - Y Y
a grievance redressal
mechanism related to
the policy/policies to
address stakeholders’
grievances related to
the policy/policies?
10 Has the company Y Y Y Y Y Y - Y Y
carried out independent
audit/evaluation of
the working of this
policy by an internal or
external agency?#

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(b) If answer to the question at Sr. No. 1 against any principle, is ‘No’, please explain why:

Sr. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
No.
1 The company has - - - - - - - - -
not understood the
Principles
2 The company is not at - - - - - - - - -
a stage where it finds
itself in a position
to formulate and
implement the policies
on specified principles
3 The company does - - - - - - - - -
not have financial or
manpower resources
available for the task
4 It is planned to be - - - - - - - - -
done within next
6 months
5 It is planned to be - - - - - - - - -
done within the next
1 year
6 Any other reason - - - - - - Please - -
(please specify) refer
Note P7

Notes

P1 Sr. No. 3 - The Bank has an Anti Bribery & Anti Corruption Policy, Group Code of Business Conduct and Ethics, Policy on Related
Party Transactions, Group Anti Money Laundering and Combating Financing of Terrorism Policy and the Whistle Blower Policy.
The Group Code of Business Conduct and Ethics is based on professional and ethical standards which the Bank believes all
its employees as well as Directors should adopt. The Whistle Blower Policy broadly conforms to the standards set by the
Protected Disclosure Scheme of Reserve Bank of India. The Whistle Blower Policy conforms to the requirements as stipulated
by the Companies Act, 2013 and the rules thereunder and of applicable securities laws and regulations. Sr. No. 6 - The Group
Code of Business Conduct and Ethics and the Policy on Related Party Transaction is available on the website of the Bank at
www.icicibank.com. The other policies are internal documents and accessible only to employees of the organisation.

P2 The Bank is committed to the principle of “Fair to the Bank, Fair to Customer” and strives to ensure fair features and pricing
in products sold by the Bank. The Bank complies with regulations governing its products and services. The Bank complies
with the Customer Rights Policy which enshrines the basic rights of customers of the Bank. These rights include Right to Fair
Treatment; Right to Transparency, Fair and Honest Dealing; Right to Suitability; Right to Privacy; Right to Grievance Redress
and Compensation. The Bank is promoting use of technology to provide services and convenience. In this regard, the Bank
complies with the “Customer Relations Policy” which covers the aspects of customer protection, mechanism for creating
customer awareness on the risks and responsibilities involved in electronic banking transactions, timelines for effecting
compensation and the customer liability in such scenarios.

P3 Sr. No. 3 - In line with the general laws and regulations and sound ethical practices followed nationally, the Bank has adopted
employee oriented policies covering areas such as employee benefits and sexual harassment at the workplace which endeavour
to provide an environment of care, nurturing and opportunity to accomplish professional aspirations. Sr. No. 6 - These policies
can be viewed online only by the employees of the organisation.

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P4 The principle enunciates the aspect of being responsive towards all stakeholders especially those who are disadvantaged,
vulnerable and marginalized. Sr. No. 3 and 6 - The Bank has set processes in place to achieve the objectives addressed by
this principle. The ICICI Foundation for Inclusive Growth works towards inclusive growth by participating in areas like skill
development and sustainable livelihoods. The Bank has a Corporate Social Responsibility Policy which can be viewed on
the weblink https://www.icicibank.com/managed-assets/docs/about-us/ICICI-Bank-CSR-Policy.pdf. The details of agri and rural
banking products and facilities are available on https://www.icicibank.com/rural/index.html.

P5 Sr. No. 3 - The Group Code of Business Conduct & Ethics (Code) which has been adopted by the Bank and all its subsidiary
companies addresses the requirements of this principle. The Code emphasizes fair employment practices & diversity,
fair competition, prohibition of harassment & intimidation and safety at the workplace. The Bank follows the Code of
Commitment based on the standards issued by the Banking Codes and Standards Board of India which covers aspects like
good and fair banking practices, transparency in services and products, high operating standards and cordial relationship
with customers. The Bank is an equal opportunity employer and believes in providing a safe workplace and an enabling work
environment to its employees. Sr. No. 6 - The Group Code of Business Conduct and Ethics is available on the website of the
Bank https://www.icicibank.com/managed-assets/docs/personal/general-links/code_of_business_conduct_ethics.pdf. The Code
of Commitment is available at the Bank’s branches and made available to customers on their request.

P6 The Bank has a Board approved Environment, Social and Governance Framework integrating the various policies and approaches
of the Bank. The framework provides the various aspects relating to environment sensitivity in the Bank’s operations. The Bank
complies with applicable environmental regulations in respect of its premises and operations. Further, the Bank participates in
initiatives towards addressing environmental issues. The Bank also has a social and environmental management framework as
part of its credit evaluation process and requires borrowers to follow certain standards relating to these aspects.

P7 While there is no specific policy outlined for this principle, the “ICICI Group Code of Business Conduct and Ethics” governs all
employees, officers and Directors and requires them to act in accordance with high professional and ethical standards. The
Bank through trade bodies and associations, puts forth a number of suggestions with respect to the economy in general and
the banking sector in particular. The Bank, directly, and along with the ICICI Foundation for Inclusive Growth has been working
on several initiatives for promotion of inclusive growth.

P8 Sr. No. 3 and 6 - The Bank has a Corporate Social Responsibility Policy which can be viewed on the Bank’s website at
https://www.icicibank.com/managed-assets/docs/about-us/ICICI-Bank-CSR-Policy.pdf. The ICICI Foundation for Inclusive
Growth focuses primarily on skill development for sustainable livelihoods for the marginalized individuals. The initiatives of
ICICI Foundation for Inclusive Growth can be viewed on the weblink www.icicifoundation.org. The Bank pursues initiatives
in the area of rural development, including efforts to improve financial inclusion, empowering women and supporting the
agricultural economy.

P9 Sr. No. 3 - The Bank has a Customer Grievance Redressal Policy and a Customer Compensation Policy which conform
to the guidelines issued by the Reserve Bank of India. The Bank also has a Customer Rights Policy which enshrines the
basic rights of the customer and the responsibilities of the Bank. Sr. No. 6 - These policies can be viewed online on
https://www.icicibank.com/customer-service-policies.page?.

* Policies wherever stated have been approved by the Board/Committee of the Board/senior management of the Bank
#
All policies and processes are subject to audits and reviews done internally in the Bank from time to time

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