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Industrial Credit and Investment Corporation - Bank to the Poor


             However, as we trickle down to the structure for Microfinance and specially SHG, we see that the model decentralizes authority from ICICI Project Manager to Local SHG and focuses on mainstreaming of participatory approaches. ICICI made a big policy shift while designing the SHG model where accountability without control and influence without authority became the normal way of working. The entire SHG structure is in itself a community where people belong and work together for a common cause. Collective responsibility by all SHG members act as social collateral among group members. This brings us to the Hierarch-Community Phenotype model 4 which derived its inspiration from genetics. Lim, Griffiths, and Sambrook (2010). .
             In the SHG model, the role of ICICI employees is limited, and the role of the Coordinators and Promoters are more prominent. ICICI Managers directly build trust with these partners who empower local SHG members, even though they may never meet face-to-face. Information flows bottom-up to managers who are dependent on information provided by promoters who are not considered official employees of the Bank, but as contracted agents to make business decisions.
             This approach reduces ICICI admin/sale cost by 5-10 percent and makes the SHG model cost effective and scalable. The Bank's officials work with SHG groups in their villages, which is contrary to the industry practice where these groups have to visit the bank branches. This special model of serving SHGs at their doorstep helps keep transactional costs very low. ICICI can expand its operation by just increasing the number of promoters or coordinators without incurring additional expense on resources or spending on brick-and-mortar. The structure allows ICICI to cut cost, minimize risk to the bank and create empowered groups of new entrepreneurs with sustained rising income opportunities. .
             The ICICI Microfinance model allows people at all levels to grow and develop.


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