Who is the founder of ICICI bank of India? When it was established?

By Ritesh|Updated : September 5th, 2022

The ICICI bank of India was not founded by a single person but is the result of joint work in 1994. Industrial Credit and Investment Corporation of India, an Indian financial organization, established ICICI Bank as a 100% subsidiary. Before adopting the acronym ICICI Bank, the bank was known as Industrial Credit and Investment Corporation of India Bank. Therefore, The development is done through a partnership between the World Bank, the Government of India, and Indian industry organizations.

ICICI Bank

  • On the initiative of the World Bank, the Indian government, and business leaders from India, ICICI was established in 1955 outside India.
  • Until the late 1980s, ICICI concentrated a large portion of its efforts on project financing, giving long-term funding to numerous industrial ventures.
  • In the 1990s, India's financial industry underwent liberalization, and ICICI changed from being a development financial institution that only provided project financing to a diversified financial services provider that provided a wide range of products and services alongside its subsidiaries and other group companies.

Summary:

Who is the founder of ICICI bank of India? When it was established?

Industrial Credit and Investment Corporation of India, an Indian financial organization, founded ICICI Bank as a wholly owned subsidiary in 1994. The main goal was to establish a development financial organization to give Indian companies access to medium- and long-term project funding.

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