ICICI Bank to spend Rs. 200 cr on CSR in FY16: Chanda Kochhar

In FY16, the private sector bank will spend almost Rs. 100 crore on skill development, she told reporters on the sidelines of an event in Mumbai

ICICI Bank will be spending Rs. 200 crore on social sector projects in the current fiscal year and meet the mandatory 2% CSR spend norms, CEO Chanda Kochhar said on Wednesday.

In FY16, the private sector bank will spend almost Rs. 100 crore on skill development, she told reporters on the sidelines of an event in Mumbai.

"Our spends group-wide are almost close to the 2% target," Kochhar said.

She was speaking after its 22nd skill development academy was inaugurated by Maharashtra Chief Minister Devendra Fadnavis.

ICICI Bank has already trained 60,000 underprivileged people in 13 specifically identified skill-sets, and is targeting to take the number to 1 lakh in the next 15 months, according to Kochhar. 

Over 30% of the people who have been skilled for free include rural women, she sai