Multiple choice

In which year was Industrial Finance Corporation of India established?

  1. 1940

  2. 1944

  3. 1948

  4. 1950

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

IFCI (Industrial Finance Corporation of India) was established in 1948 as the first development finance institution in India. It was set up to provide medium and long-term financial assistance to the manufacturing sector. IFCI was later converted into a company in 1993.