22. Discuss in brief about main development banks of india?
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The development banks for the industry are the IndustrialDevelopment Bank of India(IDBI), the Industrial Finance Corporation of India (IFCI), the Industrial Credit and Investment Corporation of India (ICICI), and the Industrial Reconstruction Corporation of India (IRCI) for large industries and the National Small .
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The IFCI was the first development bank established in India in 1948. It has been converted into a public limited company with effect from 1 July, 1993. Its main objective is to make medium and long term credit to industrial conserns in the private, public, joint and co- operative sectors in India.
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