ICICI to modify products for rural economy

Country’s largest private lender ICICI Bank is planning to bring changes in its products to make them suitable for the rural areas — its new targeted sector for widening reach. The bank, which has already established its hold both in the agricultural and non-agricultural sector in the rural areas, would modify certain urban products to suit the requirements of the farming community, ICICI Bank Senior General Manager Rajiv Sabharwal told reporters in Coimatore. Sabharwal, was in Coimbatore to give a briefing on the bank’s follow- on public issue which opened on Wednusday , said the lender was looking at financing of pre and post harvest activities, equipment, crop finance, insurance and savings, so that it could tap huge opportunities existing in the sector. Besides, the bank would also offer products for Small and Medium Enterprises, he said. “The bank is well positioned to capitalise on the growth opportunities that are growing along with the Indian economy,” Sabharwal said.

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