Highlights of “All India Financial Institutions’’
Name of the Financial
Institution
|
Headquarters
|
Established
|
Purpose
|
IDFC
(Industrial
Finance Corporation of India)
|
New Delhi
|
1948
|
To grant loans advances to industrial concerns and
subscribe to debentures floated by them.
|
SFC
(State Finance
Corporations)
|
NA
|
1951
|
To finance the needs of the small-scale and medium
sized industries in respective states. Currently there are 28SFCs are in
operations along with 28 States Industrial Development corp.
|
IDBI
(Industrial
Development Bank of India)
|
Mumbai
|
1964
|
To meet the financial needs of industrialisation and
co-ordinate with all other agencies concerned with industrial development
finance. It is a wholly owned subsidiary of RBI till 1976. Now merged with
IDBI Bank in 2004.
|
IIBI
(Industrial
Investment Bank of India)
|
Kolkata
|
1985
|
To assists the industrial units in Eastern Region of
India.
|
SIDBI
(Small Industries
Development Bank of India)
|
Lucknow
|
1990
|
To promote, finance and development industry in small
scale sectors.
|
UTI
(Unit Trust of
India)
|
Mumbai
|
1964
|
It was setup as an investment institutions to
stimulate and pool the savings of the middle and low income groups.
|
Exim Bank
|
Mumbai
|
1982
|
To finance,facilitate and promote foreign trade in
India. It is a specialised financial institution. There are 4 institutions
namely Exim Bank, NABARD, NBH and SIDBI regulated by the RBI as all India
financial institutions.
|
NHB
(National
Housing Bank)
|
New Delhi
|
1988
|
It is the apex body of housing finance in India and
is a wholly owned subsidiary of the RBI.
|
ICICI
(Industrial
Credit and Investment Corporation of India)
|
Mumbai
|
1955
|
To stimulate the promotion of new industries and
assist in modernisation of existing industries. In 2002 ICICI merged with
ICICI Bank.
|
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