INDUSTRIAL CREDIT AND

INVESTMENT
CORPORATION OF INDIA
LTD. (ICICI)
 Introduction
• Set up in 1955
• Under the Indian companies act with the primary objective of developing
small and medium industries in the private sector
• It issued capital has been subscribed by the Indian banks, insurance
companies and the individuals and corporations of the united states, the
British eastern exchange bank and other companies and general public in
India
 Objectives
• Assisting in the creation, expansion and modernization of private sector
• Encouraging and promoting private capital participation
• Encouraging and promoting private industrial investment
 Functions of the ICICI
• It has primary and secondary functions
Primary functions:
i. Direct loans
ii. Loans in foreign currency
iii. Guaranteeing for securities
iv. Underwriting for securities
v. Contributing to the share capital and debuntures
 SECONDARY FUNCTIONS
i. Providing long term finance by defeered credit
ii. Leasing
iii. Venture capital
iv. Asset credit
v. Merchant banking
vi. Research and development
 --ICICI has setup an Asset Management company Ltd and a Merchant Banking
Division.
--It assists the private, joint public and the co-operative sectors
--The major beneficiary of the ICICI.s assistance is the private sector which is to
a tune of 90% and mainly compromising small scale units
 Financial Assistance
 Core business activity was providing the project finance
 But over the years, it has undertaken many other modes of providing financial
assistance and has involved in non-project based finance as well
Project Finance:
A distinguishing feature of the ICICI’s financial assistance is the significant share
of foreign currency loans in the total sanctioned assistance
This have been the policy because of the facility its enjoys of raising
resources in foreign currencies
Financial assistance of sanctioned loans and its disbursed by ICICI ltd. is
not only growing substantially but also undergoing purpose –wise
diversification