ICICI Bank and CNBC TV 18 share a common goal – to get positioned as a medium that caters to the masses than just the classes. The closeness in thoughts has brought the two corporate to join hands to institute the ‘Emerging India Awards’. The initiative is the first of its kind, which aims at recognising the achievement of the small and medium enterprises (SME) in the country.
Throwing more light on the initiative, V Vaidyanathan, Head, Retail Business, ICICI Bank, said, “The awards are a logical extension of our decision to re-launch our SME operations two years ago. We realised that there was a need to rethink the proposition and in the course, provide customised services to our customers than generalised ones.”
He explained that here there was a need to recognise the people in the business and also know the best at that level, “It made sense to acknowledge the best and hence the decision to establish these awards.”
For ICICI, the objective is clear to position itself as the bank that caters to the SMEs in the country. “There are many banks that give this facility but we want to be seen as the preferred choice, as there is huge opportunity in this arena and that is what we want to exploit,” Vaidyanathan said.
Reasons to partner with the initiative are on the same lines for the media major, “The benefits that we have by way of this initiative is huge and on different levels. To begin with, we want to be the channel that is addressing the masses than just the upper corporates of the country. This is a great chance to be able to achieve that,” said Govind Ethiraj, Corporate Editor, CNBC TV 18.
Sharing on more reasons he elucidated that where in any other situation, the business news channel doesn’t get a chance to go to the smaller towns, these awards also present the opportunity the business players of the smaller cities, “In any other case, we don’t go to a Jhalandhar. But now, we get a chance to be present in these cities as well.”
Partnering both the entities in putting the awards together for aspects like the formulating the processes and validating the entries, is CRISIL. Giving a point of view on the awards, Roopa Kudva, Executive Director and Chief Rating Officer, CRISIL, SAID, “These awards are an attempt to honour the ‘Best Sustainable Value Creators’ in the SME sector. We will utilise our expertise to identify the leaders in the SME sub segments. These awards will establish benchmarks for others to emulate and foster best practices among the SMEs.”
As a part of the initiative, ICICI Bank and CNCB TV 18 had also recently organised forums in Mumbai, Delhi, Chennai, Bangalore and Ahmedabad to discuss the various issues and opportunities for SMEs in various industries.