ICICI Bank’s Act of Atonement

23 06 2008

ICICI Bank  has started Disha Financial Counselling service (www.dishafc.org)  as a Corporate Social Responsibilty (CSR) initiative. Disha offers one-to-one free counselling on credit, debt management and general financial education. These centres have been started in seven cities. 

In an advertisement for Disha in BusinessWorld, the copy mentions that a large number of credit card holders have over 25% of their annual income as credit card debt. This service is aimed at those people who are unable to plan their finances and know their limits. 

With RBI and courts coming down heavily on strong arm tactics applied by recovery agents on behalf of credit card issuers like ICICI Bank, Disha is a long-term initative to reduce credit card defaults.  

Is Disha, a penitence by ICICI for bringing in an American illness into Indian middle class ?

 – G. Mohan.

 

 

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