Press release from Business Wire India
Source: Citi
Thursday, March 18, 2010 04:47 PM IST (11:17 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services
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Citi Announces Winners of 2009 Citi Micro-Entrepreneur Awards
New Delhi, Delhi, India, Thursday, March 18, 2010 -- (Business Wire India) -- At a ceremony presided over by Secretary, Ministry of Finance, Department of Financial Services, Mr. R Gopalan, Citi announced the Winners of the 2009 Citi Micro Entrepreneur Awards. The 12 Award Winners have been selected from over 800 applications the Programme received from across 25 States and Union Territories. The Awards Presentation Ceremony concluded the Programme's 6th successful year since its inception in 2004. Among the noteworthy aspects of the 2009 Programme is the fact that it received a majority of applications (68 per cent) from rural India whilst maintaining a healthy gender ratio at 54 per cent in favour of women. Uttar Pradesh contributed the highest number of applications at over 200.
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 are selected from across four regions: East & North East, West & Central, North and South. Each 2009 National Awardee was presented a cash endowment of INR 200,000. The National Runners-Up received INR 100,000. Winners of the National Award for Social Responsibility were recognized with prize money of INR 100,000 each.
These one-of-a-kind 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 ensure alignment with its goals and with the changing socio-economic landscape; 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 multi-layer, multi-dimensional process ensures that the examination, evaluation and short-listing of applications remains independent and rigorous.
Among the members of the Awards' National Advisory Council are Mr. Deepak Parekh, Chairman, HDFC Ltd, Mr. N.R. Narayana Murthy, Non-executive Chairman of the Board, Infosys Technology Ltd., Ms. Shabana Azmi, Noted Actor and former Rajya Sabha member. Mr. B K Jhawar, Chairman, Usha Martin Group, Mr. Dilip Ranjekar, CEO, Azim Premji Foundation, Mr. H N Sinor, Former Chief Executive, Indian Banks' Association, Ms. Radhika Haribhakti, Chairperson, Friends of Women's World Banking are on the National Jury.
Speaking on the occasion, Mark T. Robinson, CEO, Citi South Asia, said, "Given the vast number of individuals whose livelihood is self-employment through micro-enterprise, we know that the India growth story needs an inclusive financial ecosystem. By bringing the marginalized into the mainstream, microfinance has served this endeavour well. The Citi Micro Entrepreneur Awards not only celebrate the achievements of those that have accessed micro finance to break the circle of poverty, they serve as a symbol of hope for those that continue to be in its grip."
N. Rajashekaran, Country Business Manager, Consumer & Commercial Banking, Citi India, "We believe that we not only have an opportunity but an obligation to join all efforts that aim to make a positive contribution to achieving our national priorities. These Awards are but one expression of this belief. The quality of applications the Awards have received this year is impressive. I am also very pleased that the Programme has widened its reach manifold whilst maintaining its rigour."
According to Viraf Mehta, Chief Executive Officer, PiC, "It has been a singular privilege to have been the implementation partner of an Award that has remained focused on the achievement of its stated objectives, whilst simultaneously incorporating into its design, innovative initiatives that promote the longer term sustainability of the enterprises of all Awardees. I take this opportunity to congratulate all the awardees and wish the Awards, success in the years ahead."
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.
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 million women and their families in India.
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 approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. 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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Press Release
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Winners of the 2009 Citi Micro Entrepreneur Awards at a special felicitation ceremony
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CONTACT DETAILS
Indu Aishwerya Anand, Citi, +91 (124) 418 6766, indu.anand@citi.com
Pooja Ahluwalia, Citi, +91 98112 18341, pooja.ahluwalia@citi.com
Ajith Henry, IPAN Hill & Knowlton, +91 9540011399, ahenry@ipanhillandknowlton.com
KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES
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