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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.
Jan 6, 2014 · Government of India set up the Industrial Finance Corporation of India (IFCI) in July 1948 under a special Act. This is the first financial institution set up in India with the main object of making medium and long term credit to industrial needs. ADVERTISEMENTS:
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 .
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.
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 is a Systematically Important Non Deposit Taking Non Banking Finance Company (NBFC-ND-SI) in the public sector. Established in 1948 as a statutory corporation, IFCI is a public limited company listed on BSE and NSE.
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.
Industrial Finance Corporation(IFCI) is a government organisation holding 61.02%. It happened in 1995. After the repeal act, the Industrial Finance Corporation Of India (IFCI) became a public limited company under the companies act of 1956.
Working of Industrial Finance Corporation of India (IFCI): Since its inception in 1948, the IFCI has sanctioned net financial assistance up to March 1993 to the extent of Rs 15,430 crore against which the total disbursement was Rs 10,380 crore.
The Industrial Finance Corporation of India (IFCI) was the first development bank established in 1948 in the country for providing medium and long term credits to industrial concerns, particularly in such circumstances where normal banking accommodation is inappropriate or recourse to capital issue methods is impracticable. ADVERTISEMENTS:
