Question

Which is the first development bank established in india?

Answer 1

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. It

Answer 2

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Industrial finance Corporation of India (IFCI)

The IFCI is the first Development Financial Institution in India. It is a pioneer in development banking in India. It was established in 1948 under an Act of Parliament.