BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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IFCI stands for ____
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Industrial finance corporation of India.
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Institutional finance corporation of India.
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Industrial funding corporation of India.
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Indian finance corporation and institution.
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Explanation:
Detailed explanation-1: -IFCI Ltd (IFCI) was set up as a Statutory Corporation (“The Industrial Finance Corporation of India”) in 1948 for providing medium and long term finance to industry..
Detailed explanation-2: -First, the main function of the IFCI is to provide medium and long-term loans and advances to industrial and manufacturing concerns. It looks into a few factors before granting any loans.
Detailed explanation-3: -IFCI offers financial solutions in areas of corporate finance through Balance Sheet Funding, Loan Against Shares, Lease Rental Discounting, Promoter Funding, Long Term Working Capital requirements, Capital Expenditure and regular Maintenance Capex.
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