Core sector is ICICI priority

The venture capital arm has sanctioned Rs 9.6 crore to the sunrise industry.

Asked whether ICICI would increase its exposure to the ailing steel sector after the induction of steel baron Lakshmi Narain Mittal of ISPAT International on the board of the company, Kamath said, quot;his Mittal inclusion in the board has nothing to do with the company8217;s sanctions to steel sector.quot;

The ICICI chairman declined to comment on the company8217;s plans to raise funds from the market, including that from the bond market saying quot;it is too early to decide on the next bond issues.quot;

On the reported move by the term-lending institution to go global he said quot;there is no such plan of going global right now.quot; Earlier reports suggested that the Reserve Bank of India had turned down a proposal from ICICI to acquire companies abroad.

Kamath also replied in the negative to a question whether it had any plans to acquire more non-banking finance companies.