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ICICI to take new avatar, work 'magic' on masses

The Industrial Credit and Investment Corporation of India or ICICI Limited, one of the leading financial institutions, is embarking upon a massive advertising and public relations programme.

ICICI had commissioned Hindi feature film-maker Vidhu Vinod Chopra (of 1942 -- A Love Story fame) to make a 30-second television commercial which urges stress-hit people to "add a little magic to your life".

The 'magic' consists of a basket of personal financial products ranging from car loans, home loans, durable loans to Internet and tele-banking facilities offered by the ICICI.

The ICICI came into existence 44 years ago as a development bank for the corporate sector. Today, it is working on the concept of universal banking to provide one-stop financial services to its customers.

"We want to change the perception that the ICICI is only for corporates," says Madhabi Puri Buch, the FI's joint general manager. Besides the Chopra-made corporate film, the ICICI has engaged three PR agencies to promote its image and products among the masses, she said.

The ICICI will also make four other corporate films during the year based on its products like banking schemes, car and home loans and demat services. The TV campaign will target over nine million at a comparatively low cost. The film campaign -- to be translated into six regional languages (Bengali, Hindi, Tamil, Telugu, Gujarati, Kannada) -- will be phased out over a period of one year.

On August 15 - India's Independence Day - the ICICI will launch its Internet products. According to senior vice president Mohan Shenoi, the ICICI will offer on-line account opening and operating facilities to Non Resident Indians.

Payment of telephone bills, third party transactions, requisition for demand drafts, etc, can be done through the Net, the ICICI officials said. Some 200,000 account-holders are expected to benefit.

ICICI Bank is planning to introduce credit and debit cards by the last quarter of the current fiscal year. Besides, it is importing 100 more automated teller machines for installation at Bombay's two airports, leading vehicle fuel filling units and main junctions in the cities.

UNI

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