ICICI Group

HISTORY OF ICICI


 1955  |  1956  |  1958  |  1960  |  1961  |  1967  |  1969  |  1972  |  1977  |  1978  |  1979  |  1982  |  1984  |  1985  |  1986  |  1987  |  1988  |  1993  |  1994  |  1996  |  1997  |  1998  |  1999  |  2000  |  2001  |  2003  |  2004  |  2005  |  2006  |  2007  |  2008  |  2009  |  2010  |  2011  |  2012


1955:
The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at the initiative of the World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. Mr.A.Ramaswami Mudaliar elected as the first Chairman of ICICI Limited.

ICICI emerges as the major source of foreign currency loans to Indian industry. Besides funding from the World Bank and other multi-lateral agencies, ICICI was also among the first Indian companies to raise funds from international markets.