Question

The first financial institution(development) in india that has got merged with a bank is

Answer 1

Answer:

Explanation:

The Industrial Credit and Investment Corporation of India Limited (ICICI) is the first financial institution of India that adopted the Universal banking system.

Answer 2

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It established its subsidiary company ICICI Bank limited in 1994. In 2002, ICICI limited was merged into ICICI Bank Limited making it the first universal bank of the country.

Some Important DFIs (Sector Specific)