Economics

Which one of the following institutions is promoted by the IFCI.


ANSWER

Rashtriya Gramin Vikas Nidhi (RGVN)


SOLUTION

As part of its development mandate, IFCI was one of the promoters of National Stock Exchange (NSE), Stock Holding Corporation of India Ltd (SHCIL), Technical Consultancy Organizations (TCOs) and social sector institutions like Rashtriya Gramin Vikas Nidhi (RGVN), Management Development Institute (MDI), The functions of the IFCI base are as follows: The corporation grants loans and advances to industrial concerns. Granting of loans both in rupees and foreign currencies. The corporation underwrites the issue of stocks, bonds, shares etc. IFCI, previously Industrial Finance Corporation of India, is 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. IFCI has seven subsidiaries and one associate.

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