What Is India News Service
Thursday, November 08, 2007



   ICICI Group

        Industrial Credit & Investment Corporation of India Ltd.



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 was elected as the first Chairman of ICICI Limited.

ICICI Bank is India's largest bank in the private sector with about US$ 33 billion in assets and is the second largest Indian bank including all public and private enterprises. ICICI Bank is India's foremost technology bank and pioneered Internet banking in India. Today, it has 5 million customers on the Internet.


•  ICICI Bank

  ICICI Prudential Life Insurance

  ICICI General Insurance

  ICICI Securities

  ICICI Venture

  ICICI News Release

  ICICI History


ICICI Venture is the largest and one of the successful private equity and venture capital management companies in India with aggregate funds under management in excess of USD 650 million.

ICICI Securities Limited (i-SEC) was formed on 22nd February 1993.  It’s a wholly owned investment-banking subsidiary of ICICI Limited. ICICI Securities today is India's leading Investment Bank and one of the most significant players in the Indian capital markets.

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000. In the financial year ended March 31, 2005, the company garnered Rs 1584 crore of new business premium for a total sum assured of Rs 13,780 crore and wrote nearly 615,000 policies.

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Lombard General Insurance Company received regulatory approvals to commence general insurance business in August 2001. It’s the India 's number one private general insurance company

The stock market on Tuesday collapsed from the day’s high and even ended 190 points lower in volatile trade on heavy profit sales by investors and a slowdown in FII activity. (Sensex Sheds 190 Points, Hindu, Correspondent or Reporter, Nov 07, 2007)

The corporate bond market, or the private debt market as it is sometimes called, continues to languish in India. (An Alternative Source Of Funds, Hindu, Editorial, The Hindu, Nov 07, 2007)

No doubt, the Rs 55-lakh fine imposed by the Delhi Consumer Commission on ICICI Bank for hiring goons, who beat up a youth with iron rods to recover a loan, is exemplary, it is still not enough. (Taming Recovery Agents, Tribune, Correspondent or Reporter, Nov 07, 2007)

The Reserve Bank of India’s (RBI) bark (a warning to banks on the use of strongarm tactics to recover dues) did not work; so the Delhi Consumer Commission, presumably, felt a bite was in order. Hence its decision to levy a Rs 55-lakh fine on . . . . (Consumer Lending Blues , The Economic Times, Editorial, Economic Times, Nov 07, 2007)

Authorities have fined India’s biggest private bank more than US$130,000 after its loan collectors beat a man with iron rods and dragged him from a car before seizing the vehicle, state officials said Tuesday. (Indian Bank Fined For Violent Loan Collection Method, Daily Times, Correspondent or Reporter, Nov 07, 2007)

It was a see-saw game between bulls and bears on Monday at the Dalal Street. Bulls tried their best to stay afloat, and that is why at one point of time Sensex witnessed a high of 20,009.35 points. (Sensex Slips 385 Pts, Pioneer, Correspondent or Reporter, Nov 06, 2007)

Weak global cues coupled with selling pressure saw the BSE-Benchmark index losing 385.45 points on Monday. (Sensex Sheds 385 Pts On Weak Global Cues, Business Line, Correspondent or Reporter, Nov 06, 2007)

Home and personal loans just got more difficult to get, though they may not get more expensive. On Tuesday, the Reserve Bank of India, in its mid-term review of the credit policy, raised the Cash Reserve Ratio (CRR) to 7.5 per cent, a rise of 0.5 per cent (Rbi Ups Crr, Getting Loans Becomes Harder, Hindustan Times, A N Sudarsan Rao , Oct 31, 2007)

The country's premier stock exchange BSE's frontline index on Monday crossed 20,000 mark in late trade but closed a shade lower at 19,978 points. (Bulls Blitzkrieg Sees Sensex Kiss Mount 20k , Deccan Herald, Correspondent or Reporter, Oct 30, 2007)

Again incredible feat by bulls on Monday! They took only six sessions to help Sensex cross record 20,000 point mark in intra-day trade on Monday considering the fact that the same had plunged to a low of 17,171.45 on October 22. (Bulls Play Twenty-20, Pioneer, Correspondent or Reporter, Oct 30, 2007)

Sensex breached the 20,000 mark today amidst expectations that the Reserve Bank of India (RBI) will ease interest rates thereby injecting more liquidity into the economy. (Balle Balle: Bulls Take Sensex To 20k, Make Mukesh Ambani Richest, Tribune, Correspondent or Reporter, Oct 30, 2007)

US Treasury Secretary Mr Henry M Paulson, who visited the state for the first time today, thinks chief minister Mr Buddhadeb Bhattacharjee is a great reformer. (N-Deal Should Move Fast: Us Treasury Secy, Statesman, Correspondent or Reporter, Oct 29, 2007)

Bulls again led Sensex to a new high on Friday after market regulator SEBI decided on Thursday to allow more foreign investors like pension and university funds to invest in Indian stocks while regulating inflows through PNs. (Sensex Regains 19k, Pioneer, Correspondent or Reporter, Oct 27, 2007)

A 34 per cent rise in income has pushed up pre-provisioning profit by 38 per cent. (Icici Bank: Aggressive Growth, Business Standard, Correspondent or Reporter, Oct 23, 2007)

The National HRD Network (NHRDN), an association of HR professionals, is going to organise their 11th national conference in Kolkata between November 29 and December 1. (National Hrd Meet In Kolkata, Singapore Times, Correspondent or Reporter, Oct 18, 2007)

ICICI Bank on Tuesday launched Bank@Home services for all its savings and current account customers. (Icici Bank Launches Bank@home Services , Hindu, Correspondent or Reporter, Oct 17, 2007)

Bulls ran amok on Dalal Street, home to the country's stock market, carrying the benchmark Sensex past the 19,000 mark milestone in a record four sessions, as investors bet heavily on blue chip stocks and political truce. (Sensex Breaks 19k Mark, Gains A Hefty 640 Pts, OutLook, Editorial, Outlook, Oct 16, 2007)

Bulls on the Dalal Street have gone absolutely crazy as even they don't know where to stop, and in their frenzy they are reaching one milestone after the other in no time. (Sensex In Its Last Teens , Pioneer, Editorial, The Pioneer, Oct 16, 2007)

If the Finance Ministry wants interest rates to soften, as they should, it should address the RBI, not the banks. (Cheaper Credit, Business Line, Editorial, Business Line, Oct 15, 2007)

The bull rally on the bourses suddenly reversed its course on Friday as investors booked profit at higher levels. (Sensex Down 395 Points, Business Line, Correspondent or Reporter, Oct 13, 2007)

More ICICI Group of Companies stories


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