Discussion
The ICICI was formed in
Answer: D
Correct answer: 1955
The Industrial Credit and Investment Corporation of India was formed in 1955 as a private sector development finance institution, with participation from Indian and British interests and support from the World Bank.
Its private character distinguished it from IFCI, set up by statute in 1948, and from IDBI, established in 1964 as a public apex institution. ICICI later reversed into its own banking subsidiary in 2002, becoming ICICI Bank - the first Indian institution to abandon the development finance model for universal banking.
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