Q. Which among the following is the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector?
Answer: IFCI
Notes: The Industrial Finance Corporation of India (IFCI) was set up on July 1, 1948 in New Delhi to provide medium and long-term financial assistance to the manufacturing, services and infrastructure sectors. It is a Government Company under Section 2(45) of the Companies Act, 2013. It is also a Systemically Important Non-Deposit taking Non-Banking Finance Company (NBFC-ND-SI), registered with the Reserve Bank of India (RBI). It grants loans only to public limited companies and co-operatives but not to private limited companies or partnership firms,
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