Bihar State Credit and Investment Corporation Ltd. was incorporated on 30th January, 1975 under Companies Act 1956 with following objects :-

To promote, encourage, aid, assist, undertake, co-ordinate, organize, finance, establish and develop small, medium and large industries in the State, in the backward districts and rural areas.

Providing direct assistance and financial needs for establishing enterprises whether owned or run by the State Govt., statutory body, corporation, public or private company, firm or individual.

To act as the major instrument for rapid and integrated establishment, growth and development of industries.

To encourage promote and assist in participation of capital in industrial enterprises, processing for loan on concessional terms, direct loan assistance, conversion of loans into equity, participation in equity and preference shares to existing and new small, medium and large scale industrial undertaking in the state of Bihar.

To survey, collect and document the available resources, investigate problems concerning industry or industrialization.

Preparation of feasibility report, providing facilities for consultancy services and industrial services

To conceive, develop and implement plans and programmes for development of industries.

Processing for loans on concessional terms, direct loan assistance to existing and new and small, medium and large scale industrial undertaking.

Providing consultancy services with emphasis on technical management, financial management, marketing management ,personnel management and Industrial relations.

BICICO act and work as Fund Manager and Trustee of the fund of State govt. of Bihar in various department schemes and invest the fund so collected be kept in public sector bank and other secured investment as approved by Govt. of Bihar and return so collected fund to the investing department and to manage the fund efficiently so as to return back the fund on the directions of investing department on short notice. Such fund shall be invested in term loan, refinance, IFL, Seed Capital Assistance or otherwise.