ICICI Bank

ICICI Bank Limited is a multinational financial services company

headquartered in Mumbai, India. 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 3,350
branches and 10,486 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.
ICICI Bank is one of the Big Four banks of India, along with State Bank of
India, Bank of Baroda and Canara Bank.


Corporate history
ICICI Bank was established by the Industrial Credit and Investment
Corporation of India, an Indian financial institution, as a wholly owned
subsidiary in 1994. The parent company was formed in 1955 as a joint-
venture of the World Bank, India's public-sector banks and public-sector
insurance companies to provide project financing to Indian industry. The
bank was initially known as the Industrial Credit and Investment
Corporation of India Bank, before it changed its name to the
abbreviated ICICI Bank. The parent company was later merged with the
bank.
ICICI Bank launched internet banking operations in 1998.
ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a
public offering of shares in India in 1998, followed by an equity offering in
the form of American Depositary Receipts on the NYSE in 2000. ICICI
Bank acquired the Bank of Madura Limited in an all-stock deal in 2001 and
sold additional stakes to institutional investors during 2001-02.
In the 1990s, ICICI transformed its business from a development financial
institution offering only project finance to a diversified financial services
group, offering a wide variety of products and services, both directly and
through a number of subsidiaries and affiliates like ICICI Bank. In 1999,
ICICI become the first Indian company and the first bank or financial
institution from non-Japan Asia to be listed on the NYSE.
In 2000, ICICI Bank became the first Indian bank to list on the New York
Stock Exchange with its five million American depository shares issue
generating a demand book 13 times the offer size.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved
the merger of ICICI and two of its wholly owned retail finance subsidiaries,
ICICI Personal Financial Services Limited and ICICI Capital Services
Limited, with ICICI Bank. The merger was approved by shareholders of
ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at
Ahmedabad in March 2002 and by the High Court of Judicature at Mumbai
and the Reserve Bank of India in April 2002.
In 2008, following the 2008 financial crisis, customers rushed to ICICI
ATMs and branches in some locations due to rumors of adverse financial
position of ICICI Bank. The Reserve Bank of India issued a clarification on
the financial strength of ICICI Bank to dispel the rumors.

Objective
ICICI Banks Green initiative is to make healthy environment in the
organization i.e.; to create intrapersonal skills amongs the customer and
understanding between employees of the organization.
Broad objectives of the ICICI are:
(a) To assist in the creation, expansion and modernization of private
concerns;
(b) To encourage the participation of internal and external capital in the
private concerns;
(c) To encourage private ownership of industrial investment.

Subsidiaries
Domestic
ICICI Prudential Life Insurance Company Limited
ICICI Lombard General Insurance Company Limited
ICICI Prudential Asset Management Company Limited
ICICI Prudential Trust Limited
ICICI Securities Limited
ICICI Securities Primary Dealership Limited
ICICI Venture Funds Management Company Limited
ICICI Home Finance Company Limited
ICICI Investment Management Company Limited
ICICI Trusteeship Services Limited
ICICI Prudential Pension Funds Management Company Limited

International
ICICI Bank UK PLC
ICICI Bank Canada
ICICI Bank Eurasia Limited Liability Company
ICICI Securities Holdings Inc.
ICICI Securities Inc.
ICICI International Limited





ICICI Bank Education Loan


ICICI Bank Education Loan







Education Loan
The Educational Loan Scheme aims at providing financial support to
deserving/ meritorious students for pursuing higher education in India and
abroad.
Eligible Student:
Should be an Indian National
Secured admission to professional/ technical courses in India or
Abroad through Entrance Test / Merit Based Selection process.
Courses Eligible

Studies in India:
Graduation courses, Post Graduation courses, Professional courses,
Computer certificate courses, Courses like ICWA, CA etc, Courses
conducted by IIM, IIT etc., Courses offered in India by reputed foreign
universities, Evening courses of approved institutes, Other courses leading to
diploma/ degree etc. conducted by colleges/ universities approved by UGC/
Govt etc., Courses offered by National Institutes and other reputed private
institutions, Teacher Training Course/Nursing Course/B.Ed approved either
by the Central Government or by State Government and such courses should
lead to Degree or Diploma Course.

Studies abroad:
Graduation: For job oriented professional/ technical courses offered by
reputed universities, Post graduation: MCA, MBA, MS, etc., Courses
conducted by CIMA- London, CPA in USA etc.

Expenses considered for loan:
Fee payable to college/ school/ hostel
Hostel expenses (Wherever students have to stay outside the campus
or avail private accommodation banks may consider reasonable
lodging & boarding expenses)
Examination/ Library/ Laboratory fee
Purchase of books/ equipments/ instruments/ uniforms
Caution deposit/ building fund/ refundable deposit supported by
Institution bills/ receipts
Travel expenses/ passage money for studies abroad.
Purchase of computers - essential for completion of the course
Any other expense required to complete the course - like study tours,
project work, thesis, etc
Quantum of finance: Need based finance subject to repaying capacity of
the parents/ students with margin and the following ceilings.
Studies in India - Maximum Rs. 10.00 lacs
Studies abroad - Maximum Rs. 20.00 lacs

Margin:
Up to Rs 4 lacs : Nil
Above Rs 4 lacs : Studies in India 5% Studies Abroad 15%
Security:
Loans Up to Rs 4 lacs - Co obligation of parents.
Further wherever parents are not there banks could consider
grandparent as co obligator to the loans taking into account their net
worth
Above Rs 4 lacs and up to Rs. 7.5 lacs: Co obligation of parents along
with Collateral in the form of a suitable third party guarantee for
100% of the loan amount to be taken
For cases above Rs 7.5 lacs: Co obligation of parents along with
Collateral security of 100% value of loan
Assignment of future income of the student for payment of the loan
installments for all loans
The co-obligator should be parent(s)/guardian of the student borrower.
In case of married person, co-obligator can be spouse or the
parent(s)/parents-in-law
Rate of Interest:
loans up to Rs 4 lacs shall be IBAR ( not exceeding BPLR)
for loans above Rs. 4 lakhs shall be BPLR + 1%
At least 0.50% concession in interest rates on Education Loans to girl
students for pursuing higher education in India and abroad
Penal interest @2%
Repayment / Holiday:
The repayment holiday shall be a year more than the period of the
course or 6 months after the borrower gets a job, whichever is earlier.
The loan shall be repaid in 5-7 years after commencement of
repayment.