Press release from Business Wire India
Source: Citi
Friday, December 12, 2008 06:59 PM IST (01:29 PM GMT)
Editors: General: Consumer interest, Social issues; Business: Advertising, PR & marketing, Banking & financial services, Business services, Media & entertainment
Release no: 18730
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Citi Micro Entrepreneur Awards 2008 Expands Reach in Fifth Year
2008 Applications More than Double of Last Year, Awards Presentation by Dr Montek Singh Ahluwalia
New Delhi, Delhi, India, Friday, December 12, 2008 -- (Business Wire India) -- The 2008 Citi Micro Entrepreneur Awards recognized ten successful micro entrepreneurs at a ceremony presided over by Honourable Dr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission. Celebrating its fifth year, the 2008 event was the largest-ever in terms of applications. Approximately 2500 micro entrepreneurs from 22 states participated in the year-long process, compared with 930 in 2007. Uttar Pradesh contributed the highest number of nominees at 813 while Goa was represented for the first time this year. Nominations of rural micro entrepreneurs outnumbered those by urban micro entrepreneurs.
Launched in 2004, the Citi Micro Entrepreneur Awards is a global initiative that recognizes individual micro entrepreneurs for their extraordinary efforts in gaining self-sufficiency through the innovative use of microfinance.
Conceptualized by Citi India, the awards process has been implemented by Partners in Change (PiC), a not-for-profit organization, through significant support from the Citi Foundation.
Classified into three categories, namely the National Micro Entrepreneur Award, the National Runner-up Award and the Socially Responsible Micro Entrepreneur, the winning nominations were selected from across four regions: East & North East, West & Central, North, and South. Each National Awardee was presented a cash endowment of Rs.200,000. The National Runners-Up received Rs.100,000. Winners of the National Award for Social Responsibility category were recognized with prize money of Rs.100,000 each. The Awardees were selected by a National Jury made up of eminent personalities.
The Awards envisage a transparent, democratic and bottom-up approach. This is achieved through three independent bodies, namely the National Advisory Council (NAC), which guides the Awards process to align with the goals; the National Jury; and the Screening Organizations, namely IIM Kolkata, IIM Bangalore, SP Jain Institute of Management and Research, Mumbai, and Faculty of Management Studies, New Delhi. This ensures independent and rigorous evaluation in examining and shortlisting nominations.
Speaking on the occasion, Sanjay Nayar, CEO South Asia, Citi, said, "Microfinance and micro enterprise development have emerged as major instruments of economic empowerment and social change. The Citi Micro Entrepreneur Awards programme is a crucial example of the profound impact inclusive financial services have on individuals and communities. We feel privileged to celebrate these remarkable stories of optimism, courage and resilience, and we aim to continue supporting the sector in the hope of creating many more such role-models of industry."
N Rajashekaran, Country Business Manager, Global Consumer Group, Citi India, said, "I am heartened by the depth and width the Awards programme has acquired over the past five years. Few industries have the ability to help people and their enterprises grow and fulfill their potential. At Citi, we are proud to serve a leadership role in promoting the extension of financial services to many of those in greatest need through our support for and engagement in the microfinance sector in India."
The specific goals of the Citi Micro Entrepreneur Award programme include:
-- To recognize the entrepreneurial skills of the underprivileged, who have helped themselves to emerge from below the poverty line, create jobs and add value to society.
-- To help create the next generation of microfinance networks, build more inclusive financial sectors, and lay the foundation for a flourishing microfinance sector.
-- To help raise awareness of microfinance, particularly among micro entrepreneurs who could benefit from it; to recognize and celebrate the contributions that micro entrepreneurs bring to the world economy; and to highlight best practices in micro entrepreneurship.
According to Viraf Mehta, Chief Executive Officer, PiC, "It gives me immense satisfaction that in completing five years the CMEA has, with the active support of all partners, evolved into a benchmark process in many respects. I am particularly gratified by the emerging evidence that a very high proportion of past winners, continue to be 'success stories' and role models for others, and that this has been facilitated by the innovative CMEA process of ongoing 'tracking and training' of winners."
In 1997, Citi was one of the first companies in India to identify capacity building of micro credit as a key driver for socio-economic empowerment and sustainable development. Since then, Citi has partnered many NGOs in the areas of microfinance through grant support, employee volunteerism, cause-related marketing and best practices sharing. Today, the efforts of Citi, along with its NGO partners, have impacted the lives of three million women and their families in India.
To view the details of Citi Micro Entrepreneur Awards 2008 Winners, please click on the link given below:
Citi Micro Entrepreneur Awards 2008 Winners
Citi Foundation
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses, leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. Additional information can be found at http://www.citigroupfoundation.com/.
Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
About Partners in Change
Partners in Change, a not for profit organization, promoted by Action Aid International India in 1995, has the promoting and deepening of the Corporate Social Responsibility as its focus. A pioneer organization in CSR, its origins lie in the recognition that business will have an increasing impact on society and this impact, especially on the poor and marginalized communities can be positive and negative. To maximize the positive and minimize the negative impact, it is critical to engage with the business sector. Developing partnerships between business and civil society organizations representing disadvantaged communities and other vulnerable and marginalized stakeholders in PiC's means to influence the impact of business on society.
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Citi Micro Entrepreneur Awards 2008 Winners.doc
CONTACT DETAILS
Indu Aishwerya Anand, Citi, +91 (0124) 4186766, indu.anand@citi.com
Sudeep Bhalla, Citi, +91 (022) 4001 5009, sudeep.bhalla@citi.com
Pooja Ahluwalia, Citi, +91 9811218341, pooja.ahluwalia@citi.com
Shreela Roy, IPAN, +91 9820149119, shreela.roy@ipan.com
Rajiv Adhikari, IPAN, +91 (022) 40661758, rajiv.adhikari@ipan.com
KEYWORDS
CONSUMER, SOCIAL, MARKETING, BANKING, BUSINESS SERVICES, MEDIA
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