The correct answer is (b). Industrial Finance Corporation of India (IFCI) is a development bank. It was established in 1948 to provide financial assistance to industrial enterprises in India. IFCI provides loans, guarantees, and equity participation to companies in a variety of sectors, including manufacturing, infrastructure, and services. It also provides advisory services to companies on a range of financial and strategic matters.
A commercial bank is a financial institution that accepts deposits from individuals and businesses and uses those deposits to make loans. Commercial banks also provide other financial services, such as checking and savings accounts, credit cards, and investment products.
An industrial bank is a type of commercial bank that specializes in lending to businesses. Industrial banks typically have a larger lending limit than other commercial banks and offer a wider range of financial services to businesses.
None of the above is not the correct answer because IFCI is a development bank.