Multiple choice general knowledge

Which of the following all India Development Finance Institution was established first ?

  1. IDBI

  2. IFCI

  3. IIBI

  4. SIDBI
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B Correct answer
Explanation

IFCI (Industrial Finance Corporation of India) was established in 1948, making it the first among these development finance institutions. IDBI was established later in 1964, while SIDBI (1990) and IIBI (1997) came much after independence. IFCI was set up to provide medium and long-term financial assistance to the manufacturing sector.

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