Which one of the following missions of the World Bodies/ Organisation has set-up the Industrial Credit and Investment Corporation of India (ICICI) bank for the developing small and medium industries in India in the Private Sector?

World Bank

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International Monetary Fund

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Asian Development Bank

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World Trade Organisation

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Solution

The correct option is A World Bank
ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.

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Similar questions

Consider the following:

A.Industrial Finance Corporation of India

B. Industrial Credit and Investment Corporation of India

C. Industrial Development Bank of India

D. Unit Trust of India

The correct sequence in which the above were established is

Explain the functions of following in the development of small business in India.

(i) National Small Industries Corporation (NSIC)

(ii) District Industrial Centre (DIC)

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