Page 174 - DCOM304_INDIAN_FINANCIAL_SYSTEM

Unit 8: Financial Institutions

development banks which the World Bank had sponsored in a number of under developed Notes
countries. The ownership of the corporation was entirely in private hands; but interested groups
built some safeguards into the structure of the corporation against acquisition of its control. The
corporation commenced its operations as an issuing-cum-lending institution.

Corporate Vision, Mission and Objectives of ICICI

With integration of Indian economy with the global economy, increasing disintermediation in
financial sector and growing competition from both domestic and global players fuelled by
proliferation and convergence of informational and computation technologies and rapid
deregulation and liberalization, the ICICI has metamorphosed its vision to become a globally
competitive player through constant innovation and adoption of cutting edge technology to
provide superior customer solutions.
The ICICI moved from being a wholesale lender to becoming a universal bank and now, the
repositioning moves on to a different platform-that of becoming an e-commerce power house
and emerge as a click and brick banker.
The corporation, thus, aims to become the pre-eminent provider of a complete spectrum of
financial products and services in India and abroad to its clients combining emerging technology
with new strategies-with the ultimate objective of increasing its market presence and ensure a
greater share of the customer's wallet and thereby enhancing value creation for its shareholders.
Tasks of ICICI

In order to achieve the above objectives the ICICI performs the following functions:
1. To provide medium and long-term project finance and infrastructure finance to private
industry in India.

2. To provide asset credit.
3. To make funds available for investments by revolving investment as rapidly as possible.
4. To provide supplier's line of credit.
5. To provide treasury and custodial services to private sector industrial enterprises.
6. To provide lease financing facility.

7. To perform the activities of a banker with view to providing corporate banking services,
working capital finance and cash management services.
8. To act as investment banker for the enterprises and thereby performing the functions of
investment banking, primary dealership, playing active role in equity and debt-capital
markets, providing private equity and rendering project finance advisory services.
9. To provide brokerage facilities.
10. To supply venture capital.
11. To raise funds from the market through floatation of bonds, loans and through acceptance
of deposits.
12. To render retail banking and Internet banking services.
13. To distribute and service retail loan products.
14. To provide mutual fund and asset management facilities.

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