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Investing Far and Wide

A recent interview with K. V. Kamath, CEO of the second largest bank in India, in the Wharton Leadership Digest indicates that part of ICICI's growth strategy is to focus on rural market development -- and move into the 600,000 villages in India.

Sounds like a wise move. It's about time traditional banks began to take cues from groups like the Grameen Bank. Social entrepreneurs are developing their own version of the IPO. And some banks in the U.S. are opening branches in the inner city and underserved areas -- rather than closing them.

What does ICICI need to do to personalize financial services for this new market of rural customers? How do you think they should manage the expansion?