The Industrial Finance Corporation of India (IFCI) is a leading financial institution in India that was established in 1948 under the Industrial Finance Corporation Act, 1948. It is a development bank that provides long-term finance to various industrial sectors such as infrastructure, manufacturing, energy, and service sectors.
The main objective of IFCI is to provide financial assistance to industrial projects in India that contribute to the economic development of the country. It provides various financial services such as term loans, working capital finance, equipment finance, bridge finance, project finance, and other related services.
IFCI plays a vital role in the development of the industrial sector in India by providing financial assistance to various projects. It supports various sectors such as power, infrastructure, textiles, engineering, and chemicals. IFCI also promotes Small and Medium Enterprises (SMEs) by providing finance for their growth and development.
In addition to its financial services, IFCI also offers advisory services to its clients, which includes project appraisal, project management, and other related services. It also provides assistance to companies for the implementation of environmental and social policies.
IFCI has a strong network of branches and subsidiaries across India. Some of its subsidiaries include IFCI Factors Limited, IFCI Venture Capital Funds Limited, IFCI Infrastructure Development Limited, and IFCI Financial Services Limited.
In conclusion, IFCI is a leading financial institution in India that provides long-term finance to various industrial sectors. It plays a vital role in the development of the industrial sector and promotes Small and Medium Enterprises (SMEs) by providing finance for their growth and development.