Question

Which one of the following companies is eligible for the financial assistance and loans from the Industrial Finance Corporation of India (IFCI)?

• A. Limited Public Companies
• B. Public Co-Operatives
• C. Private Limited Companies
• D. All of the above

Answer 1

The correct option is D All of the above

IFCI, previously Industrial Finance Corporation of India, is an Indian government owned development bank to cater to the long-term finance needs the industrial sector. It was the first development finance institution established by the Indian government after independence. Until the establishment of ICICI in 1991, IFCI remained solely responsible for implementation of the government's industrial policy initiatives.

Any public limited company or co-operative society incorporated and registered in India which is engaged, or proposes to engage itself, in the manufacture, preservation or processing of goods, or in the shipping, mining or hotel industry or in the generation or of distribution of electricity or any other form of power, is eligible for financial assistance. later by an amendment even Private limited companies have become eligible for loans from IFCI.