Question

Name any three special financial institutions and state their objectives.

Answer 1

Answer:

Industrial Finance Corporation of India (IFCI)

State Financial Corporations (SFC)

Industrial investment bank of India Ltd

Objectives:

• Objectives of IFCI provide medium and long-term financial assistance to large scale industrial undertakings, particularly when ordinary bank accommodation does not suit the undertaking or finance cannot be profitably raised by the concerned issue of shares.

• Objectives of SFC to maintain and promote fairness, efficiency, competitiveness, and transparency in the securities and futures markets; promote public understanding of investing and corporate finance policy; protect investors by enforcing regulations; reduce crime and misconduct
• Objectives of Industrial Bank of India Ltd To provide financial assistance as well as to revive and revitalise sick industrial units in public/private sectors, an institution called the Industrial Reconstruction Corporation of India (IRCI) was set up in 1971 with a share capital of Rs. 10 crores.