Q. The industrial Finance Corporation of India which was the first Development Finance Institution in India was originally a shareholders corporation. In which year it was converted to a company under companies act 1956?
Answer: 1993
Notes: Industrial Finance Corporation of India is a Non-Banking Finance Company which was established in 1948 as a statutory corporation. The financing activities cover various kinds of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector etc.

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