Thursday, November 23, 2017

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Industrial Credit And Investment Corporation Of India (ICICI)

INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA(ICICI)

Origin Of Industrial Credit and Investment Corporation of India

Industrial Credit and Investment Corporation of India was started in January, 5 1955 as a Public Ltd. Companies under the companies act. It is only development bank which has participation by foreign investors.

Capital Of Industrial Credit and Investment Corporation of India

Paid up share Capital of Industrial Credit and Investment Corporation of India is Rs. 25 crore, which was contributed by commercial banks, insurance companies, foreign investors from UK, USA, Germany, France and Japan.

finance
[Post Image Courtesy of DDPavumba at FreeDigitalPhotos.net]

Objectives Of Industrial Credit and Investment Corporation of India

The following are the major objectives of Industrial Credit and Investment Corporation of India:

1. To provide following are the major objectives of Industrial Credit and Investment Corporation of India.

2. To develop underwriting facilities, to help private sector units.

Functions Of Industrial Credit and Investment Corporation of India

The main functions of the Industrial Credit and Investment Corporation of India are as follows:

• Expansion of private sector industries.

• To give loans or guarantee of loans either in rupees or foreign currency.

• To underwrite shares and debentures and subscribes directory to share issued.

• To encourage and promote private capital.

• To promote private ownership of industrial investment alongwith the expansion of investment market.

Management Of Industrial Credit and Investment Corporation of India

Industrial Credit and Investment Corporation of India is managed by the board of directors which full time chairman. The directors are nominated by Government, Reserve Bank of India Foreign shareholders and IDBI.

Subsidiaries of Industrial Credit and Investment Corporation of India

Industrial Credit and Investment Corporation of India is one of the leading and wide range of financial service providers in India. The following are the subsidies of the Industrial Credit and Investment Corporation of India.

• ICICI Banking Corporation Ltd.

• ICICI Securities and Finance Company Ltd.

• ICICI Assets Management Company Ltd.

• ICICI Trust Ltd.

• ICICI Brokerage Service Ltd.

• ICICI Credit Corporation Ltd.

Working Result Of Industrial Credit and Investment Corporation of India

Industrial Credit and Investment Corporation of India provided financial assistance to industrial concerns has increased form 145.8 corer in 1961–62 to Rs. 34,220 crore in 1998–99 of the total loan sanctioned in 1998–99, 33% went to corporate finance, 29% to infrastructure, 19.5 each to oil gas and petrochemicals industries.

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