Finance Institutions And Insurance

                                                   Industrial Finance Institutions In India 


Industrial financing institutions can be classified as follows.
                                   
           
                                      
1) National level institutions 

2) State level organizations


 Industrial Finance Corporation of India (IFCI)

Establishment: 1st July 1948, the first development bank in India.
Headquarters: New Delhi
Work: financial and non-financial support to the medium and large industries (public and private sector).
IFCI is a sick financial institution as NPAs increase. On July 1, 1993, the company was converted into a public limited company under the Companies Act 1956.




Industrial Credit and Investment Corporation of India (ICICI)

Established: On January 5, 1955, with the cooperation of the Government of India, the World Bank and some private individuals. (ICICI) was established as a public limited company. (ICICI) started its work on April 14, 1955.
() The bank was set up primarily for private enterprises. However, ICICI Bank financed all the sectors.
In 1994, ICICI founded ICICI Bank in the private sector.
On March 3, 2002 ICICI merger was done in ICICI Bank. This merger is called a reverse merge. ICICI is the first global bank in India. Such a bank which provides all types of financial services under one roof.

Industrial Development Bank of India (IDBI)

In July 1964, it was established as an affiliate of RBI (IDEBI). Based on the nature of industrial development bank in Canada, this bank was designed.Indian 



Small Industries Development Bank of India (SIDBI)

Establishment: As per the SIDBIAct 1989, on April 2, 1990, as IDBI's affiliate organization SIDBI was established. In September 2000, SIDBI amended by the law SIDBI was separated from SIDBI.
(sidbi) headquarter is located in Lucknow.
  The main task of SIDBI is to initiate and finance small enterprises.


LIC LIFE INSURANCE CORPORATION OF INDIA

LIC Life Insurance Corporation of India is headquartered in Mumbai. LIC has 7 zonal offices and 101 division offices. LIC has offices in India, England, Mauritius, Fiji, and other countries. LIC's monopoly remains in the field of life insurance.



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