Industrial Credit and investment Corporation of India Role and Functions
- The Industrial Credit and Investment Corporation of India (ICICI) was created in 1955 as a public limited corporation under the Indian corporation Act to support medium and small private sector enterprises.
- Role of ICICI:
- The ICICI’s major aims are as follows:
- (i) Provide financing to private-sector industrial ventures.
- (ii) To encourage the development of new industries.
- (iii) To promote the growth and modernization of existing industries.
- (iv) To give technical and management assistance for increased output.
- Functions of ICICI
- To achieve the stated aims, the corporation undertakes the following functions:
- Providing financing in the form of long- or medium-term loans, as well as equity involvement.
- Sponsoring and underwriting fresh offerings of shares and other instruments;
- Guaranteeing loans from additional private investment sources.
- Making money accessible for reinvestment via revolving investments as soon as feasible.
- Offering project advice services. i.e. providing advise.
- We provide pre-investment guidance to private sector enterprises on government policies and processes, feasibility studies, and joint ventures. We also advise federal and state governments on policy concerns.