How do I cash my IFCI bond?
For bondholders holding the bonds in physical form, following documents have to be furnished along with request letter to the Registrar :
- Original Bond Certificate.
- Request letter duly signed by nominee.
- Photo identity proof viz passport /driving license/pan card/Election commission card duly attested.
When was Indian financial Corporation of India IFCI?
1948
IFCI Ltd (IFCI) was set up as a Statutory Corporation (“The Industrial Finance Corporation of India”) in 1948 for providing medium and long term finance to industry.
What was the main purpose of Industrial Finance Corporation of India?
Industrial Finance Corporation of India (IFCI) is actually the first financial institute the government established after independence. The main aim of the incorporation of IFCI was to provide long-term finance to the manufacturing and industrial sector of the country.
What is IFCI full form?
IFCI, previously Industrial Finance Corporation of India, is a development finance institution under the jurisdiction of Ministry of Finance, Government of India . Established in 1948 as a statutory corporation, IFCI is currently a company listed on BSE and NSE.
What are the functions and objectives of IFCI explain?
Objectives. The main objective of IFCI is to 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.
What are the main resources of the IFCI?
Besides paid up capital and reserves, the other major sources of financial resources of IFCI are issue of bonds and debentures, borrowings, from the IDBI, the government and foreign loans.
Is IFCI a bank?
We are a Non-Banking Finance Company in the public sector. Established in 1948 as a statutory corporation, IFCI is currently a company listed on BSE and NSE.
Is IFCI a PSU?
New Delhi: IFCI Ltd has now become a public sector unit (PSU) with the government increasing its stake in the infrastructure financing firm to 51.04%.
Which was the first development bank in India *?
Industrial Finance Corporation of India IFCI
Development banking in India It was in 1948 that the first Development Bank Industrial Finance Corporation of India IFCI was established. IFCI was assigned the role of a gap filler and it was not expected to compete with the existing channels of industrial finance.