Another 20 centres are to be covered by the end of the year. When queried about the borrowing programme for achieving the target for PFS, Gupte said the company had sufficient capital to ensure adequate leveraging for achieving the targeted growth.

In case the company decides to raise equity, it would opt for GDR over ADR as ICICI is already in the GDR market. She also added that the company will eventually issue ADRs too.

The company, Gupte said, is using direct marketing agents (DMAs) to distribute itsproducts to provide customers service at their doorstep.It has appointed Integrated Enterprises, which has 102 branches in 52 cities, as its DMA. Currently, two products are offered, namely, car and home loans.

She further said that many new instruments are being considered including those with variable interest rates. Explaining the rationale for foraying into the personal finance segment, Gupte said ICICI's vision was to be the preferred bank for total financial and banking solutions for corporates and individuals.

After being in corporate financing for more than 40 years, the company has decided to spread its risk by entering into retail banking, she added.ICICI, in a short span of about two years, has about 35 lakh retail customers, comprising existing auto finance consumers, retail bond customers, and fixed deposit holders of erstwhile Anagram Finance.

The company proposes to offer PFS such as housing finance, professional loans, consumer durable finance, credit cards, personal finance, and autofinance.