ATMs and branches in some locations due to rumors of bank failure. The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumours. In March 2020, the board of ICICI Bank Ltd. approved an investment of in Yes Bank, resulting in a 5% ownership interest in Yes. Acquisitions 1996: ICICI Ltd. A diversified financial institution with headquarters in Mumbai 1997: ITC Classic Finance. incorporated in 1986, ITC Classic was a non-bank financial firm that engaged in hire, purchase and leasing operations. At the time of being acquired, ITC Classic had eight offices, 26 outlets and 700 brokers. 1997: SCICI (Shipping Credit and Investment Corporation of India) 1998: Anagram (ENAGRAM) Finance. Anagram had built up a network of some 50 branches in Gujarat, Rajasthan, and Maharashtra that were primarily engaged in the retail financing of cars and trucks. It also had some 250,000 depositors. 2001: Bank of Madura 2002: The Darjeeling and Shimla branches of Grindlays Bank 2005: Investitsionno-Kreditny Bank (IKB), a Russian bank 2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in 1916, and 30% owned by the Bahte family. Its headquarters were in Sangli in Maharashtra, and it had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others in Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively evenly split between metropolitan areas and rural or semi-urban areas. 2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010 for . RBI was critical of BOR's promoters not reducing their holdings in the company. BOR has since been merged with ICICI Bank. Role in Indian financial infrastructure ICICI bank has contributed to the setting up of a number of Indian institutions to establish financial infrastructure in the country over the years: The National Stock Exchange was promoted by India's leading financial institutions (including ICICI Ltd.) in 1992 on behalf of the Government of India with the objective of establishing a nationwide trading facility for equities, debt instruments and hybrids, by ensuring equal access to investors all over the country through an appropriate communication network. In 1987, ICICI Ltd along with UTI set up CRISIL as India's first professional credit rating agency. NCDEX (National Commodities and Derivatives EXchange) was set up in 2003, by ICICI Bank Ltd, LIC, NABARD, NSE, Canara Bank, CRISIL, Goldman Sachs, Indian Farmers Fertiliser