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IFCI Ltd (IFCI) was set up as a Statutory Corporation (“then Industrial Finance Corporation of India”) in 1948 for providing medium and long-term finance to industry.
IFCI, previously Industrial Finance Corporation of India, is a development finance institution under the ownership of Ministry of Finance, Government of India. Established in 1948 as a statutory corporation, IFCI is currently a company listed on BSE and NSE .
Industrial Finance Corporation of India (IFCI) is actually the first financial institute the government established after independence. The main aim for the incorporation of IFCI was to provide long-term finance to the manufacturing and industrial sector of the country. Let us study more about IFCI.
Sep 21, 2017 · The key function of IFCI was; granting long-term loans(25 years and above); Guaranteeing rupee loans floated in open markets by industries; Underwriting of shares and debentures; Providing guarantees for industries.
2 days ago · IFCI Share Price: Find the latest news on IFCI Stock Price. Get all the information on IFCI with historic price charts for NSE / BSE.
Government of India came forward to set up the Industrial Finance Corporation of India (IFCI) in July 1948 under a Special Act. The Industrial Development Bank of India, scheduled banks, insurance companies, investment trusts and co-operative banks are the shareholders of IFCI.
IFCI, previously known as Industrial Finance Corporation of India, is an Indian Government owned non banking finance company established to cater to the long-term finance needs of the industrial sector.
IFCI’s full form is the Industrial Finance Corporation of India, India’s first Development Financial Institution, established to promote economic growth through infrastructure and industry development.
Jun 22, 2023 · IFCI full form is Industrial Finance Corporation of India. It was established as a Statutory Body in 1948. It was formed to provide finances to businesses. Further, in 1956, IFCI became a Public Limited Company (PLC) under the 1956 Companies Act.
Thus in July 1, 1948 the Industrial Finance Corporation of India (IFCI) was established by the Government under a special Act. The prime object of IFCI is to provide medium term and long-term finance to public limited companies and co-operative organisations. The authorised share capital of the IFCI is now raised to Rs 20 crore.
