Which one of the following is the main objective of IFCI?

To offer both small and large investors the means of acquiring shares in the widening prosperity resulting from the steady industrial growth of the country

To upgrade technology, modernisation and to promote marketing of products of small scale sector

To serve as the apex institution for term finance for industry with coordination, regulation and supervision of the working of other financial institutions

To provide medium and long-term financial assistance to industrial undertakings, particularly in those circumstances in which banking accommodation is in appropriate or resource to capital market is impracticable

Answer is Right!

Answer is Wrong!

The correct answer is D.

IFCI stands for Industrial Finance Corporation of India. It is a public sector financial institution that was established in 1948. The main objective of IFCI is to provide medium and long-term financial assistance to industrial undertakings, particularly in those circumstances in which banking accommodation is in appropriate or resource to capital market is impracticable.

IFCI provides financial assistance in the form of loans, guarantees, and equity participation. It also provides advisory services to industrial enterprises. IFCI has played a significant role in the development of the Indian economy. It has helped to finance a wide range of industries, including manufacturing, power, infrastructure, and telecommunications.

Option A is incorrect because IFCI does not offer shares to the public. Option B is incorrect because IFCI does not upgrade technology or promote marketing of products. Option C is incorrect because IFCI is not the apex institution for term finance for industry.

More similar MCQ questions for Exam preparation:-