NONBANK STATUTORY FINANCIAL ORGANISATIONS NBSFOs The number and

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) • Set up in 1948 • Medium and long term loan to large industries in the private sector. • It provides direct rupee and foreign currency loans.

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

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

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.

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

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

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.

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