Mumbai: Global financial services major Citi India on 15 may announced a $1.5-million (Rs6 crore) grant to Hyderabad-based Indian School of Business (ISB) to support projects that promote financial inclusion for small investors and enterprises.
The grant will be given to the Centre for Analytical Finance (CAF) at ISB over a period of three years and will help CAF to undertake projects on a range of subjects in the financial domain, Citi India’s chief executive officer Sanjay Nayar told reporters here.
“While India is witnessing unprecedented levels of economic growth, two-thirds of our population is presently unconnected to the formal banking and financial system. CAF is uniquely positioned to undertake projects to promote financial inclusion,” Nayar said.
The objective of the research program is to support changes that will have a positive impact on emerging financial markets and participants, including small investors, SMEs and Micro Entrepreneurs, he said.
Citi has operations in over 100 countries and has around 200 million customers across the world.