Originally published: May 15, 2008
Source: Business Wire India
Citi Foundation has committed to provide a US$1.5 million grant to the Centre for Analytical Finance (CAF) at the Indian School of Business (ISB) to study, develop and recommend measures that will promote financial inclusion and improve capital markets access for small investors and enterprises.
The objective of this program is to support changes that will have a positive impact on emerging financial markets and participants, including small investors, SMEs and micro-entrepreneurs. CAF will formulate recommendations to support regulators, practitioners, academics, and other opinion leaders to implement financial development in the country. It will also organize projects, international conferences, workshops/lectures, and extensive dissemination of the project findings over the next three years.
Sanjay Nayar, CEO, Citi India, said, "While India is witnessing unprecedented levels of economic growth, two-thirds of our population is presently unconnected to the formal banking and financial system. Government, private organizations, NGOs and individuals have undertaken several initiatives recently to extend financial inclusion and to improve capital markets access for small investors and enterprises. There exists a definite need to understand the impact these initiatives are making and to identify key issues for stimulating dialogue amidst all relevant stakeholders to induce the next level of reforms to facilitate all-inclusive growth."
Read the complete article: Citi Commits US$1.5 Million to ISB to Promote Financial Inclusion for Small Investors and Enterprises (Business Wire India)