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ICICI was framed in 1955. Founded as a cooperative endeavour of the World Bank, the Government of India, and delegates of Indian organisations, ICICI is the parent organisation of ICICI Bank. It is a principally laid out organisation to give medium-term and long-haul project support to Indian enterprises.
After the progression of the monetary market in India, ICICI changed its business from a supplier of just task money to an expanded monetary supplier. From that point forward, the Bank was integrated as the Industrial Credit and Investment Corporation of India Bank, and later the name was changed to ICICI Bank.
Objectives Of ICICI
The most important objectives of the ICICI are as follows:
- To provide financial services to the person
- To promote economic development and growth
- To promote social welfare and equity
- To provide a platform for the corporate sector to come together and collaborate
- To provide financial support to small businesses in India.
- To promote entrepreneurship and innovation.
- To contribute to the growth of the Indian economy.
Activities Of ICICI:
The activities of ICICI are discussed below:
Project Finance:
It is one of the most active lenders in the infrastructure space, providing finance for projects in the power, road, ports, and telecom sectors. The company’s project finance portfolio includes both greenfield and brownfield projects. In addition to lending, ICICI also offers structured finance products such as debt, mezzanine finance, and equity to its clients. The company is also a significant player in the renewable energy space and has financed many wind and solar projects.
Advisory Services
This offers a range of advisory services to help businesses meet their specific needs. They have experts in every business area, so whether you need help starting a company or want to expand into new markets, ICICI can provide the guidance you need. They also offer services to help businesses manage risk and protect their interests. With ICICI’s help, your business can grow and succeed in today’s competitive environment.
Facilities for Non-resident Indians:
It offers a range of world-class products and services to its Non-resident Indian (NRI) customers. These facilities include safety of funds, repatriation of money, investment opportunities, and more. NRIs can rest assured that their money is safe and secure when banking with ICICI. In addition, the Bank provides a host of investment opportunities, so NRIs can grow their money while they’re away. ICICI also makes it easy for NRIs to repatriate their money to India whenever needed. With all these benefits, it’s easy to see why ICICI is the top choice for NRIs worldwide.
Provision OF Foreign Currency Loans:
ICICI has been one of the major lenders to support business activities ranging from small and medium enterprises to mega infrastructure projects. The Bank offers foreign currency loans to Indian borrowers to execute approved projects abroad.
Services Offered By ICICI Bank
- ICICI Bank offers a wide variety of services, including personal and business banking, credit and debit cards, loans, and insurance.
- Personal banking services include providing loans, mortgages, deposits, and investment products. Business banking services include financial planning, accounting, and transaction services.
- Credit and debit cards are a popular way to spend your money and can be used at various merchants, including restaurants, stores, and online retailers. The cards are linked to your bank account and can be used for daily transactions.
- Loan products offered by ICICI Bank include personal loans, home loans, car loans, and education loans. The loans are available in various options, including fixed-rate, adjustable-rate, and no-collateral loans.
- Insurance products offered by ICICI Bank include life insurance, health insurance, automobile insurance, and accidental death and dismemberment insurance.
How Is The Security Of ICICI Bank?
ICICI Bank offers a wide range of products and services, including personal, business, institutional banking, wealth management, and insurance products. The world-class security infrastructure helps to protect money and information. They use state-of-the-art technology and procedures to safeguard your accounts and assets.
Their global reach gives you access to a full range of banking products and services worldwide. One can visit their website for more information on icici online services.
Conclusion:
In this post, we discussed ICICI Securities- a leading financial institution in India. ICICI offers a wide range of products and services to its customers, including variable annuities and life insurance products. ICICI securities are top-notch.
ICICI’s project advisory services include feasibility studies, business planning, project management, procurement and vendor management, contract negotiation, and Risk assessment and mitigation
It offers a range of services that help companies execute projects better and faster. The company has a team of experienced professionals who understand the industrial and business landscape. They offer tailored project solutions that consider the client’s specific needs.
