ICICI Full form
The full form of ICICI is Industrial Credit and Investment Corporation of India
ICICI Full Form
ICICI's full form is Industrial Credit and Investment Corporation of India. ICICI is one of the important private region banks of India. As of June 30, 2019, the entire value of consolidated total assets stood at Rs. 12.5 trillion. ICICI Bank has a community of 5. 275 branches and 15,589 ATMs throughout the country.
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History Of ICICI
- The ICICI Bank was established and promoted by ICICI ltd in 1994. It became the wholly owned subsidiary of ICICI Ltd.
- In 1998 ICICI decreased its shareholding to 46%.
- ICICI Ltd was established in 1955 as a joint venture of the World Bank, the Government of India, and the consultant of Indian Industries.
- The essential focus of ICICI bank was to offer medium-term and long-term financing to Indian Business.
Organizational Structure of ICICI
In October 2018, Sandeep Bakshi replaced the CEO MD Chandra Kochhar. He was appointed as the CEO & MD of the bank for a period of 5 years.
Headquarter of ICICI
ICICI has a Registered Office in Vadodara Gujarat and a Corporate Office in Mumbai, Maharashtra.
Companies of ICICI Group
Besides ICICI Bank, the following are the companies of ICICI Group,
- ICICI Prudential Life Insurance Company
- ICICI Securities
- ICICI Lombard General Insurance Company
- ICICI Prudential AMC & Trust
- ICICI Venture
- ICICI Direct
- ICICI Foundation
- ICICI Home Finance Company Limited
- Disha Financial Counselling
Products & Functions of ICICI
ICICI provides the following banking services to its customers.
- Opening of Saving Account or Current Accounts.
- Opening of Fixed Deposits & Recurring Deposits.
- Provides the facilities such as Credit card, Debit card, Overdraft, Cheque book, Demand Draft, Mobile banking, Internet Banking, etc.
- Grants advances such as Personal loans, Home loans, Car loans, Gold loans, etc.
- Provides medium-term & long-term loans to SMEs, Business, Corporates, etc.
- iPal - It is an omnichannel voice bot that provides banking services on 'Alexa' & 'Google Home'.
ICICI Full form
The complete form of ICICI is the Industrial Credit and Investment Corporation of India. In 1955 ICICI was established. ICICI joined the financial sector in 1994 by establishing {ICICI Bank as its financial branch. In 1998, ICICI Bank became the first bank in India to begin internet banking.
It was the first Indian bank to be mentioned on the New York Stock exchange in 2000. It was the first private-sector bank to open a mobile branch in Maharashtra with an ATM in 2013. The headquarter of ICICI bank is in Mumbai, Maharashtra, India, and operates in 17 nations across the globe. In October 2001, the Board 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 Services Limited, with ICICI Bank. Until the late 1980s, ICICI primarily focused its activities on project finance, providing long-term funds to various industrial projects. With the liberalization of the financial sector in India in the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services provider that, along with its subsidiaries and other group companies, offered a wide variety of products and services. Mr Sandeeep Bakshi is the current CEO and managing director.