- 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.
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.