ENTREPRENEURSHIP

Detailed explanation-1: -IFCI Ltd., established as the Industrial Finance Corporation of India (IFCI) on July 1, 1948, was the first Development Financial Institution in the country, setup to cater to the long-term finance needs of the industrial sector.

Detailed explanation-2: -Industrial Development Bank of India (IDBI) was constituted under the Industrial Development Bank of India Act, 1964 as a Development Financial Institution (DFI) and came into being on July 01, 1964, vide GoI notification dated June 22, 1964.

Detailed explanation-3: -IFCI was the first Development Financial Institution of India set up to propel economic growth through development of infrastructure and industry.

Detailed explanation-4: -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.

Detailed explanation-5: -IFCI is the first development financial institution in India.