General Knowledge - Indian Economy - Discussion

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.

ICICI is a financial institution & it is largest bank in privet sector previously it is used give finance to the other companies & institution.

Its a bank as well as insurance sector.

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.

It is private bank therefore call is financial institution.

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.

It is private finance institution. Because that it provide loan to corporate sector.

How could it be a financial institution it is a insurance company and bank both further it is a corporation, so cannot be financial institution alone.

It is private bank therefore call is Financial Institution.

ICICI is the financial institution but people call this as bank in normal language.