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ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.
The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to ICICI Bank. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital ...
ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.
Founded as a cooperative endeavour of the World Bank, the Government of India, and delegates of Indian organisations, ICICI is the parent organisation of ICICI Bank. It is a principally laid out organisation to give medium-term and long-haul project support to Indian enterprises.
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary.
History. In 1955 ICICI was formed as an initiative of the World Bank. In the 1990s, ICICI transformed its business from a financial institution limited to development projects to a diversified financial services group. Ever progressing with the times, ICICI addressed a need to upgrade its corporate structure to that of universal banking. Read More.
May 23, 2024 · ICICI was founded in 1955 as a collaboration between the World Bank, the Indian Government, and Indian banking industry to provide funding for homegrown industrial projects. The ICICI Banking...
Aug 28, 2016 · Then the bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to ICICI Bank and then the parent company was later merged with...
Industrial Credit and Investment Corporation of India (ICICI) is a financial institution in India and was established in 1955 as a public limited company. The Indian Company Act governs it. ICICI is incorporated for developing medium and small industries of the private sector.
History. The Industrial Credit and Investment Corporation of India (ICICI) was a government institution established on 5 January 1955 and Sir Arcot Ramasamy Mudaliar was elected as the first Chairman of ICICI Ltd.
