Question 18 of 37
Q.Specify the functions of IFCI.
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2022Subjective· 3mImportance★★★★★
49% · 18/37 Questions
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Start your 14-day free trial to unlock the full solution →IFCI is India's first development finance institution, set up in 1948 to provide long-term industrial finance and promote industrial growth.
The Industrial Finance Corporation of India (IFCI) was established in 1948 as the first development finance institution in India to provide medium- and long-term finance to industry. Its main functions are:
- Granting loans and advances to industrial concerns for the purchase of fixed assets, repayable over a long period.
- Underwriting the issue of shares, bonds and debentures of industrial companies.
- Direct subscription to the shares and debentures of industrial concerns.
- Guaranteeing loans raised by industries from the capital market, banks or other sources, and guaranteeing deferred payments for imported machinery. …
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