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The full form of ICICI is the Industrial Credit and Investment Corporation of India. It is headquartered in Mumbai. It offers a wide range of banking and financial services for corporate and retail customers. It uses a variety of delivery channels and subsidiaries in the areas of investment banking, life, non-life insurance, venture capital, and asset management.
ICICI has more than 5,000 branches and over 16,000 ATMs across the country. It also has subsidiaries in 17 countries around the world. Read this blog to learn more about icici full form.
History of ICICI
Table of Contents
- It was founded on January 5, 1994
- Sir Arcot Ramasamy Mudaliar was the first Chairman of ICICI
- It was designed as a joint venture of the World Bank, India’s public-sector banks, and public-sector insurance companies to provide project financing to the Indian industry
- ICICI transformed its business from a development financial institution to a diversified financial services group
- In 1998, ICICI launched Internet Banking operations
- In 1999, ICICI became the first Indian company to be listed on the NYSE
- In March 2020, the board of ICICI Bank Ltd. approved an investment of INR 10 billion in Yes Bank, leading to a 5% ownership interest in Yes.
Key People of ICICI
| Position | Name |
| Chairman | Girish Chandra Chaturvedi |
| MD & CEO | Sandeep Bakhshi |
Subsidiaries of ICICI
- ICICI Prudential
- ICICI Lombard
- ICICI Securities
- ICICI Direct
Branches of ICICI
ICICI has its branches across the following countries:
- United Kingdom
- Canada
- United States
- Singapore
- Bahrain
- Hong Kong
- Qatar
- Oman
- Dubai
- China
- South Africa
Products of ICICI
ICICI offers the following services and products:
- Online money transfers
- Tracking services
- Current accounts
- Savings accounts
- Time deposits
- Recurring deposits
- Mortgages
- Loans
- Automated lockers
- Credit cards
- Prepaid cards
- Debit cards
- Digital wallets called ICICI pockets
Services Provided by ICICI Bank
Here are the services ICICI Bank provides to its customers:
- Deposit Accounts (Savings & Current Account)
- Loans: home loans, Personal loans, Vehicle loans, Education loans, Gold Loans, Pradhan Mantri Mudra Yojana.
- Fixed and recurring deposits
- Credit & Debit cards
- Net Banking, Mobile Banking, and branch services
- PPF account
FAQs
1. What types of deposit accounts does ICICI Bank offer?
ICICI Bank provides both savings Accounts and Current Accounts to cater to different banking needs.
2. What kinds of loans can I avail from ICICI Bank?
ICICI Bank offers a variety of loans including Home loans, Personal loans, Vehicle loans, Education loans, Gold Loans, and loans under the Pradhan Mantri Mudra Yojana scheme.
3. What digital banking services does ICICI Bank offer?
ICICI Bank provides Net Banking, Mobile Banking through their mobile app, and traditional branch services to manage accounts, transfer funds, pay bills, and more conveniently.
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