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Question

Q. With reference to the Development Financial Institutions (DFI), consider the following statements:

Which of the statements given above is/are correct?


A
1 only
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B
2 only
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C
Both 1 and 2
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D
Neither 1 nor 2
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Solution

The correct option is B 2 only

Explanation:

  • Statement 1 is incorrect: The development finance institutions or development finance companies are organizations owned by the government or charitable institution to provide funds for low-capital projects or where their borrowers are unable to get it from commercial lenders. The prime objective of DFI is the economic development of the country
  • Statement 2 is correct: IFCI is the 1st DFI in India. Established in 1948 as a statutory corporation.

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