'Financial Inclusion Schemes will Ensure Growth Opportunities'

New Delhi: ICICI Bank chief Chanda Kochhar on Thursday said government's financial inclusion schemes will bring millions of people into the mainstream and ensure inclusive growth opportunities.

"These and other similar reforms will lead to the next curve in economic activity and inclusive, participative growth," the MD and CEO of the country's largest private sector bank said here.

Kochhar said ICICI Bank has been pursuing the financial inclusion agenda since last decade when it started lending to under-banked customer segment through Micro Finance Institutions (MFIs).

Speaking at the NHRDN National Conference, she said the rapidly changing landscape in India will give immense opportunities to 'Architect the Curve', to be at the forefront of change and influence the world not just at an economic level but also at the social level. 

Talking about impact of urbanisation on infrastructure, Kochhar said currently demand is concentrated in few cities, whereas supply comes from across the country. 

"The next curve will come with the concept of smart cities, which is going to create growth zones and new ecosystem for the country. It will also create newer business models for organizations with highly networked work communities," she said.

Kochhar said technology will be a key driver of the next curve, and will have implications for businesses and their customers and employees. 

"SMAC (Social Mobile Analytics Cloud) and the Internet of Things will have future autonomous business models using predictive intelligence in the future," she added.

Stressing on increasing participation of women in the workforce, she said accessing this talent pool is essential for sustainable growth.