12-28-2009, 10:53 PM
ICICI was set up during 1955 as a private company with a view to provide support to industry in India by way of rupee and foreign currency loans, particularly the private international investment and World Bank funds to assist the industry in the country in private sector.
It functions include:
- Assistance to industrial undertakings for new projects, expansion, modernisation, diversification etc. in the shape of rupee loans or foreign currency loans.
- Subscription and underwriting of capital issues
- Guaranteeing the payment for credits.
- Merchant banking, equipment leasing and project counselling.
It floated a number of institutions successfully which include credit rating agency CRISIL, ICICI Banking Corporation, SCICI (since merged with it) a Mutual Fund etc. During Sept 1998 it changed its name to ICICI Ltd.
It functions include:
- Assistance to industrial undertakings for new projects, expansion, modernisation, diversification etc. in the shape of rupee loans or foreign currency loans.
- Subscription and underwriting of capital issues
- Guaranteeing the payment for credits.
- Merchant banking, equipment leasing and project counselling.
It floated a number of institutions successfully which include credit rating agency CRISIL, ICICI Banking Corporation, SCICI (since merged with it) a Mutual Fund etc. During Sept 1998 it changed its name to ICICI Ltd.