Question

The first development financial institution in india that has got merged with a bank is

Answer 1

india's first DFi was operationalised in 1948 and it set up state Financial corporations (sFcs) at the state level after passing of the sFcs act, 1951, succeeded by the development of industrial Finance corporation of india (iFci).

Answer 2

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It established its subsidiary company ICICI Bank limited in 1994. In 2002, ICICI limited was merged into ICICI Bank Limited making it the first universal bank of the country.

Some Important DFIs (Sector Specific)