Full Form of ICICI

Full-Form of ICICI (Industrial Credit and Investment Corporation of India)

The full form of ICICI stands for Industrial Credit and Investment Corporation of India bank was first called ICICI limited during its foundation and was considered as a financial institution of India. In late 1990, the bank has witnessed a huge change in its business. They started to offer project finances to the organizations, and thus, they diversified the business by introducing a wide range of products and services and owned many subsidiaries and transformed them.

In the year 2001, the board of directors of ICICI and the board of directors of ICICI bank both merged and called as ICICI bank. The companies’ shareholders approved this historic merger by January 2002, and the Reserve Bank of India approved by April 2002.

Founder of Industrial Credit and Investment Corporation of India: – MR K.V Kamath founded this bank in the year 1994.
Full Form of ICICI

You are free to use this image on your website, templates etc, Please provide us with an attribution linkHow to Provide Attribution?Article Link to be Hyperlinked
For eg:
Source: Full Form of ICICI (wallstreetmojo.com)

Products and Services of ICICI

Products and Services of ICICI

You are free to use this image on your website, templates etc, Please provide us with an attribution linkHow to Provide Attribution?Article Link to be Hyperlinked
For eg:
Source: Full Form of ICICI (wallstreetmojo.com)

#1 – Accounts and Deposits

In this type of product, the services which are provided as follows: –

#2 – Credit and Debit Cards

In this type of product, the services which are provided as follows: –

  • Credit Cards- It provides credit facilities to their customers; by this, the customers can enjoy the dining and other attractive discount offers on other services.
  • Debit Cards- Bank provides the debit card facilities to their customers. The maximum limit of withdrawal is INR 1.5 lakhs per day. The bank’s maximum transaction limit is INR 2.5 lakhs per day, which is a great facility.
  • Gold Debit Card- The bank also provides the Gold debit card facility to its customers. Here the customers can enjoy the cash withdrawal of INR 75000 per day and INR 1.25 lacs per day for transactions.
  • Titanium Debit Cards- This service facilitates the customer with special privileges and benefits. The customers can carry this card anywhere they want to and can also avail attractive discounts. The cash withdrawal of INR 1 lac per day and INR 1.5 lacs per day is for transactions that are allowed for this type of service.

#3 – Investments

This type of product the services which are provided as follows: –

#4 – Loans

The bank also provides the basic facility of giving loans to their customers. The bank provides home loan facilities, personal loans, business loans, and vehicle loans as well.

#5 – Insurance

This provides a unique facility for providing customers with insurance like life insurance, health insurance, home, and car insurance, etc. The bank acts as a middle man and facilitates the customer with an easy understanding of all the schemes in detail. This bank deposits the premium money on time to the insurance money, and the customers can enjoy a peaceful mind while the transactions are all taken care of by the bank.

What is the Core Value of the Bank?

The bank is committed to 5 core values, and those are Integrity, Passion, Boundaryless, Customer first, and Humility. These are the bank’s USP, which makes it different from the other competitive banks in India.

List of Subsidiary of ICICI Bank

  1. ICICI Prudential Life Insurance.
  2. ICICI Lombard.
  3. ICICI Securities.
  4. ICICI Bank, Canada.
  5. ICICI Home Finance Company Limited
  6. ICICI Bank Limited Singapore.
  7. ICICI Trusteeship Services Limited.
  8. I-WIN Advisory Services.
  9. ICICI Bank Limited Dubai Branch.
  10. I-ven Biotech Limited.
  11. ICICI Bank Limited, Bahrain Branch
  12. ICICI Kinfra Limited
  13. Café Network Limited.
  14. ICICI Bank Ltd., Asset Management Arm
  15. ICICI Bank Ltd SB Employees Provident Fund
  16. ICICI Prudential Trust Limited
  17. ICICI Financial Services Ltd.
  18. ICICI Bank Ltd SB Employees Pension Fund
  19. ICICI Bank Limited, South Africa
  20. ICICI Prudential Asset Management Company Limited
  21. ICICI Bank Limited, Hong Kong Branch
  22. ICICI Bank UK PLC
  23. ICICI Bank Limited, Depository Arm
  24. ICICI First Source Ltd.
  25. ICICI Bank Limited, New York Branch
  26. ICICI Bank Limited, Sri Lanka
  27. ICICI International Ltd.

Conclusion

It provides a huge variety of products to its customers. Due to its supreme functionality and core values, it has obtained a second-largest position in India in banking services. It has approx 4882 branches and about 15101 ATMs in India.

Recommended Articles

This has been a guide to the What is Full Form of ICICI, i.e. (Industrial Credit and Investment Corporation of India), and it’s a definition. Here we discuss the products and services of ICICI along with the list of a subsidiary of ICICI bank. You may refer to the following articles to learn more about finance –