Fast Facts on All India Financial Institutions
Important For SBI PO, IBPS PO, SSC CGL, UPSC CIVIL SERVICE PRE.
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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