What is the full form of ICICI?

2 minute read

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 on to know more about icici full form.

History of ICICI

  • It was founded on 5 January 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 andeep 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 pocket

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