When was indian financial corporation of india(ifci)established?
Answers
Answer:
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Explanation:
First, the main function of the IFCI is to provide medium and long-term loans and advances to industrial and manufacturing concerns. It looks into a few factors before granting any loans. They study the importance of the industry in our national economy, the overall cost of the project, and finally the quality of the product and the management of the company. If the above factors have satisfactory results the IFCI will grant the loan.
The Industrial Finance Corporation of India can also subscribe to the debentures that these companies issue in the market.
The IFCI also provides guarantees to the loans taken by such industrial companies.
When a company is issuing shares or debentures the Industrial Finance Corporation of India can choose to underwrite such securities.
It also guarantees deferred payments in case of loans taken from foreign banks in foreign currency.
There is a special department the Merchant Banking & Allied Services Department. They look after matters such as capital restructuring, mergers, amalgamations, loan syndication, etc.
It the process of promoting industrialization the Industrial Finance Corporation of India has also promoted three subsidiaries of its own, namely the IFCI Financial Services Ltd, IFCI Insurance Services Ltd and I-Fin. It looks after the functioning and regulation of these three companies.