General Knowledge - Indian Economy - Discussion

ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) is an Id financial services company headquartered in Mumbai, Maharashtra. It is the second largest bank in India by assets and third largest by market capitalization. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank has a network of 2,883 branches and 10021 ATM's in India, and has a presence in 19 countries, including India.

The bank has subsidiaries in the United Kingdom, Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre; and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The company's UK subsidiary has established branches in Belgium and Germany.

Indian Financial System consist of commercial banks and various other financial institutions. Financial institutions includ Development Banks like Icici, Idbi, Ifci etc. , Lending is the most important function of financial institutes. For such lending they don't create deposits. They are assisted by Central Government or RBI for the same. They provide long and midium term loans but however Commercial Banks provide short term loans max upto 7 years. DEVELOPMENT BANKS/FINANCIALINSTITUTIONS to a large extent participate in underwriting and direct investments in shares. Financial Institutions/Development Banks usally do not perticipate in the deposit market like com. Banks.

Yes ICICI is the both financial institution as well as bank because of, the firm which is deals with the procurement of money in the form of saving and giving the loans to public is called the bank.

And financial institution deals with not only a procurement of money and giving loans and also other financial operations like.

Investing instead of public, discounting bills, issuing commercial papers, and other functions.

ICICI is a financial institution as well as bank also. Because main work of financial institution is that he provide long term as well as short term loans (debt) to any types of company or any organisation and it is also called lender of capital market.

Industrial Credit and Investment Corporation of India (ICICI bank)is a financial institution as well as a bank Private banking sector Ms. Chanda Kochhar is the present CMD of ICICI bank.

She is the highest paid lady of INDIA.

Bank:- A financial establishment that uses money deposited by customers for investment, pays it out when required, makes loans at interest, and exchanges currency.

Financial institutions is the synonyms of bank.

The definition of "financial institution" is an institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets.

Well the expansion of ICICI goes Industrial Credit and Investment Corporation of India. It clearly states that it is a financial institution as well as banking corporation.

ICICI is the name of bank as per my knowledge.

Can we called it as financial institution?

Then what's difference between financial institution and bank?

Chanda Kochhar (born November 17, 1961) is currently the Managing Director (MD) of ICICI Bank and Chief Executive Officer (CEO) as of now 17th Dec 2011.