by Industrial Credit and Investment Corporation of India (ICICI) was established in 1955 as public limited company under Indian Company Act, for developing medium and small industries of private sector.
Role of ICICI:
The important objectives of the ICICI are as follows:
(i) To provide loans to industrial projects in private sector.
(ii) To stimulate the promotion of new industries.
(iii) To assist the expansion and modernization of existing industries.
(iv) To provide Technical and managerial aid to increase production.
Functions of the ICICI
In order to accomplish the above objectives, the Corporation performs the following functions:
- Providing finance in the form of long-term or medium-term loans or equity participation.
- Sponsoring and underwriting new issues of shares and other securities,
- Guaranteeing loans from other private investment sources.
- Making funds available for reinvestment by revolving investment as rapidly as possible.
- Providing project advisory services i.e. offering advice:
- To private sector companies in the pre-investment stages on government policies and procedures, feasibility studies and joint venture search, and
- to central and state governments on specific policy related issues.
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