ICICI Bank 2004 Annual Report Download - page 16

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16
dickenson intellinetics 5690 2791 ICICI Annual Report 2004
:
LIBERALISATION 1985 - 1994
Having consolidated its base, India was ready to open up. Private enterprise
and free play of market forces were actively encouraged. ICICI saw the
opportunity to diversify to meet the requirements of the new paradigm. In the
wake of reforms, ICICI set up the country's first rating agency, first venture
capital company and entered into asset management and banking. In this
period of high grow th in bus ines s , total approvals cros sed Rs. 400.00 billion.