Question

What was the purpose of formation of Industrial Finance Corporation?

• A. Better development of the industrial sector.
• B. Making long-term loans available to industrial projects.
• C. Generating employment in rural areas.
• D. Determining the quality standard of goods and products.

Answer 1

The correct option is B Making long-term loans available to industrial projects.

After Independence, the Industrial Finance Corporation of India was established in 1948. Its role was to provide long-term loans to industrial projects.