ICICI Bank

The advent of private banks has brought about major changes in the banking sector in India. ICICI Bank is one of the private banks that came into existence in India under a parliamentary resolution in 1994 following the Narasimha Committee report. The bank was established in 1994. ICICI's parent company was formed in association with the World Bank in 1955. India's first 'Universal Bank' is ICICI. ICICI is a new generation private bank at the international level. ICICI Bank operates as per the regulations and rules of the Reserve Bank of India. ICICI is currently the second largest private commercial bank in India. It is headquartered in Mumbai. The Full name of ICICI Bank is Industrial Credit and Investment Corporation of India Bank. India's largest private sector bank is ICICI. ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab National Bank and Bank of Baroda. It is the second largest bank in India in terms of assets and market capitalization. It is also the first indian bank to be listed on New York Stock Exchange.

ICICI is the first bank to introduce mobile ATM in India. It is also the first bank to launch internet banking system (1998). The first bank in India to launch a digital application form for opening current accounts is also ICICI. It is also the first bank in India to use robots for sorting currency notes. India's first bank to launch voice based international remittance service to enable non-resident Indians (NRIs) to send money to any bank is also ICICI. ICICI Bank launches digital banking service on mobile phones called 'Pockets'. The new digital banking service for retail traders called Merchant Stack is introduced. The Bank is the first in India to start providing agricultural loans based on satellite images using Earth observation satellite.