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NON-BANK STATUTORY FINANCIAL ORGANISATIONS

NON-BANK STATUTORY FINANCIAL ORGANISATIONS. NBSFOs. The number and diversity of NBSFOs is so great that any single classificatory appellation cannot accurately reflect the nature of these institutions. They are also known as Development Banks . Industrial Financial Corporation of India (IFCI).

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NON-BANK STATUTORY FINANCIAL ORGANISATIONS

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  1. NON-BANK STATUTORY FINANCIAL ORGANISATIONS NBSFOs

  2. The number and diversity of NBSFOs is so great that any single classificatory appellation cannot accurately reflect the nature of these institutions. • They are also known as Development Banks.

  3. Industrial Financial Corporation of India (IFCI) • Set up in 1948 • Medium and long term loan to large industries in the private sector. • It provides direct rupee and foreign currency loans.

  4. ICICI • Set up in 1955. • Medium and long term financing • Its foreign currency loans business is much greater than that of other FIs. • Diversified financial services eg: ICICI Trust Ltd. ICICI investors services ltd. etc

  5. IDBI • 1964 • It is the central institution in the field of industrial finance. • Provide credit for establishment of new industries.

  6. Export-Import Bank (EXIM) • 1982 • Direct loans in India and outside for the purpose of exports and imports. • It is the coordinating agency in the field of international finance, it undertake development of merchant banking activities in relation to export oriented industries.

  7. Infrastructure Leasing & Financial Services Ltd (IL and FS) • 1988 • Financing of large infrastructure projects like roads, bridges, power plants. • Equipment leasing of infrastructure development.

  8. Tourism Finance Corporation of India (TFCI) • 1989 • Development of tourism and tourism related activities, facilities and services.

  9. NABARD • 1982 • It oversees the entire rural credit system. • Coordinating agency in respect of agriculture and other rural development activities. • Provides credit for SSIs, Cis, handicrafts etc. • It aims at the prosperity of rural areas through integrated rural development.

  10. SOURCES OF FUNDS PAGE 565

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