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Industrial Development Bank of India(IDBI)  The Industrial Development Bank of India was established in the year 1964 by the Act of Parliament  It is wholly owned subsidiary of the Reserve Bank of India.  it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in the country.  It is currently 10th largest development bank in the world in terms of reach with 1594 ATMs, 1000 branches including one overseas branch at DIFC, Dubai and 678 centers including two overseas centres at Singapore & Beijing. INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED(ICICI)  Industrial Credit and Investment Corporation of India Limited (ICICI) was established in 1955 as public limited company to encourage and assist industrial units in the country  Its objectives, inter alia, include providing assistance in the creation, expansion and modernisation of industrial enterprises, encouraging and promoting participation of private capital both internal and external, in such enterprises, encouraging and promoting industrial development and helping development of capital markets.It provides term loans in Indian and foreign currencies, underwrites issues of shares and debentures, makes direct subscriptions to these issues Functions of the ICICI (i) It provides long-term and medium-term loans in rupees and foreign currencies. (ii) It underwrites new issues of shares and debentu ...
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Awesome! Perfect study aid.