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Industrial Finance Corporation of India(IFCI)

In 1947, at the of Independence, there was a significant demand for new capital but the Indian Capital Market was relatively under-developed. Merchant bankers and underwriting firms were almost non existence and commercial banks were not quipped to provide long term industrial finance in any significant manner.
  • The Industrial Finance Corporation of India (IFCI) was established on July 1, 1948.
  • IFCI was the first Development Financial Institution (DFI) in India.
  • IFCI was established to cater to the long-term finance needs of the industrial sector.
  • Until the establishment of ICICI and IDBI, The IFCI remained solely responsible for implementation of the government’s industrial policy.
  • Some of the sector that benefited from IFCI include – Textiles, paper, sugar, hotels, hospitals, iron and steel, fertilizers, basic chemicals, cement, power generation etc.
Industrial Finance Corporation of India(IFCI) Industrial Finance Corporation of India(IFCI) Reviewed by Job today on 11:19 Rating: 5
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