IFCI is an Indian government owned development bank to cater to the long-term finance needs the industrial sector. IFCI stands for

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Industrial Finance Company of India
B	Industrial Finance Corporation of Investment
C	Industrial Finance Corporation of India
D	International Finance Corporation of India

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.. In 1993, after repeal of the Industrial Finance Corporation Act, IFCI became a Public Limited Company, registered under the Companies Act, 1956.

Detailed explanation-2: -IFCI is a public sector non-banking financial company that is currently listed on the NSE and BSE. It provides financial assistance for the growth of industries in India. These activities are aligned to projects in the airport, road, power, telecom, real estate, and manufacturing sectors.

Detailed explanation-3: -IDBI, SIDBI, and IFCI cater to the industrial sector.

Detailed explanation-4: -They look after matters such as capital restructuring, mergers, amalgamations, loan syndication, etc. It the process of promoting industrialization the Industrial Finance Corporation of India has also promoted three subsidiaries of its own, namely the IFCI Financial Services Ltd, IFCI Insurance Services Ltd and I-Fin.

There is 1 question to complete.