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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?
- a)World Bank
- b)International Monetary Fund
- c)Asian Development Bank
- d)World Trade Organisation
Correct answer is option 'A'. Can you explain this answer?
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Which one of the following missions of the World Bodies/ Organisation ...
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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Which one of the following missions of the World Bodies/ Organisation ...
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. One of the missions of the World Bank is to support the development of small and medium enterprises (SMEs) in developing countries.
ICICI Bank
ICICI Bank, which stands for Industrial Credit and Investment Corporation of India, is one of the largest private sector banks in India. It was established in 1994 by the World Bank in collaboration with the Indian government and Indian financial institutions. The main objective behind setting up ICICI Bank was to provide financial assistance and support to small and medium industries in India.
Support for Small and Medium Industries
Small and medium industries play a crucial role in the economic development of any country. They contribute to employment generation, innovation, and overall economic growth. However, these industries often face challenges in accessing financial resources and credit facilities. This is where ICICI Bank comes into play.
ICICI Bank was specifically set up to address the financing needs of small and medium industries in India. It provides a range of financial services, including loans, working capital, trade finance, and investment banking services to support the growth and development of these industries. By providing financial assistance, ICICI Bank helps SMEs overcome the barriers they face in accessing credit from traditional banks and promotes their overall development.
Benefits of ICICI Bank
The establishment of ICICI Bank has had several positive impacts on the development of small and medium industries in India. Some of the benefits include:
1. Increased access to finance: ICICI Bank has expanded access to finance for small and medium industries, enabling them to invest in new projects, purchase machinery and equipment, and meet their working capital requirements.
2. Technical assistance: In addition to financial support, ICICI Bank also provides technical assistance and advisory services to SMEs. This helps them improve their business operations, enhance productivity, and adopt best practices.
3. Employment generation: The growth of small and medium industries supported by ICICI Bank leads to increased employment opportunities, contributing to poverty reduction and inclusive growth.
4. Entrepreneurship promotion: ICICI Bank plays a crucial role in promoting entrepreneurship by providing funding and support to aspiring entrepreneurs who want to start their own businesses.
In conclusion, the World Bank, through its mission to support the development of small and medium enterprises in developing countries, established ICICI Bank in India. ICICI Bank serves as a crucial financial institution that provides loans and other financial services to support the growth and development of small and medium industries in India.
The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. One of the missions of the World Bank is to support the development of small and medium enterprises (SMEs) in developing countries.
ICICI Bank
ICICI Bank, which stands for Industrial Credit and Investment Corporation of India, is one of the largest private sector banks in India. It was established in 1994 by the World Bank in collaboration with the Indian government and Indian financial institutions. The main objective behind setting up ICICI Bank was to provide financial assistance and support to small and medium industries in India.
Support for Small and Medium Industries
Small and medium industries play a crucial role in the economic development of any country. They contribute to employment generation, innovation, and overall economic growth. However, these industries often face challenges in accessing financial resources and credit facilities. This is where ICICI Bank comes into play.
ICICI Bank was specifically set up to address the financing needs of small and medium industries in India. It provides a range of financial services, including loans, working capital, trade finance, and investment banking services to support the growth and development of these industries. By providing financial assistance, ICICI Bank helps SMEs overcome the barriers they face in accessing credit from traditional banks and promotes their overall development.
Benefits of ICICI Bank
The establishment of ICICI Bank has had several positive impacts on the development of small and medium industries in India. Some of the benefits include:
1. Increased access to finance: ICICI Bank has expanded access to finance for small and medium industries, enabling them to invest in new projects, purchase machinery and equipment, and meet their working capital requirements.
2. Technical assistance: In addition to financial support, ICICI Bank also provides technical assistance and advisory services to SMEs. This helps them improve their business operations, enhance productivity, and adopt best practices.
3. Employment generation: The growth of small and medium industries supported by ICICI Bank leads to increased employment opportunities, contributing to poverty reduction and inclusive growth.
4. Entrepreneurship promotion: ICICI Bank plays a crucial role in promoting entrepreneurship by providing funding and support to aspiring entrepreneurs who want to start their own businesses.
In conclusion, the World Bank, through its mission to support the development of small and medium enterprises in developing countries, established ICICI Bank in India. ICICI Bank serves as a crucial financial institution that provides loans and other financial services to support the growth and development of small and medium industries in India.
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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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer?
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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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer? for Class 5 2024 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about 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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 5 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer?.
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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer? for Class 5 2024 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about 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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 5 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer?.
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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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for 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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of 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?a)World Bankb)International Monetary Fundc)Asian Development Bankd)World Trade OrganisationCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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