Which institution is the first development finance institution established in India?
- A.IFCI
- B.IDBI
- C.ICICI
- D.SIDBI
Show answer
The Industrial Finance Corporation of India was set up in 1948 under the Industrial Finance Corporation Act of that year to provide medium and long-term finance to industry, which makes it the first development finance institution in the country; it was converted into a company in 1993.
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