Indian-Economy
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Q.

When was the Industrial Finance Corporation of India established?

 A.

June 8, 1940

 B.

June 1, 1948

 C.

July 10, 1940

 D.

July 1, 1948

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Solution:
Option(D) is correct

The government established The Industrial Finance Corporation of India (IFCI) on July 1, 1948.

The newly established DFI was provided access to low-cost funds through the central bank's Statutory Liquidity Ratio or SLR which in turn enabled it to provide loans and advances to corporate borrowers at concessional rates.


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