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What is the main objective of the Industrial Finance Corporation of India (IFCI)?
- a)To regulate the stock market.
- b)To provide short-term loans to individuals.
- c)To promote and provide financial assistance to industrial projects.
- d)To manage the foreign exchange reserves.
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
What is the main objective of the Industrial Finance Corporation of In...
The main objective of the Industrial Finance Corporation of India (IFCI) is to promote and provide financial assistance to industrial projects in the country. It plays a crucial role in supporting the growth and development of industries by offering medium and long-term loans.
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What is the main objective of the Industrial Finance Corporation of In...
The main objective of the Industrial Finance Corporation of India (IFCI) is to promote and provide financial assistance to industrial projects. Below are the key points explaining this objective:
Financial Assistance:
- IFCI provides financial assistance to industrial projects in the form of loans, equity, underwriting services, and other financial instruments.
- This assistance helps in the establishment, expansion, modernization, and diversification of industries in India.
Promotion of Industrial Growth:
- By providing financial support to industrial projects, IFCI plays a crucial role in promoting industrial growth in the country.
- This support enables businesses to access the necessary funds to implement their projects and contribute to economic development.
Development of Infrastructure:
- IFCI also focuses on financing projects related to infrastructure development, including sectors such as power, transportation, telecommunications, and healthcare.
- By supporting infrastructure projects, IFCI contributes to improving the overall economic infrastructure of the country.
Encouraging Entrepreneurship:
- Through its financial assistance programs, IFCI encourages entrepreneurship and supports the growth of small and medium-sized enterprises (SMEs).
- This support helps in creating employment opportunities, fostering innovation, and boosting economic activity.
In conclusion, the primary objective of the Industrial Finance Corporation of India is to facilitate industrial development by providing financial assistance to industrial projects, promoting entrepreneurship, and contributing to the overall economic growth of the country.
Financial Assistance:
- IFCI provides financial assistance to industrial projects in the form of loans, equity, underwriting services, and other financial instruments.
- This assistance helps in the establishment, expansion, modernization, and diversification of industries in India.
Promotion of Industrial Growth:
- By providing financial support to industrial projects, IFCI plays a crucial role in promoting industrial growth in the country.
- This support enables businesses to access the necessary funds to implement their projects and contribute to economic development.
Development of Infrastructure:
- IFCI also focuses on financing projects related to infrastructure development, including sectors such as power, transportation, telecommunications, and healthcare.
- By supporting infrastructure projects, IFCI contributes to improving the overall economic infrastructure of the country.
Encouraging Entrepreneurship:
- Through its financial assistance programs, IFCI encourages entrepreneurship and supports the growth of small and medium-sized enterprises (SMEs).
- This support helps in creating employment opportunities, fostering innovation, and boosting economic activity.
In conclusion, the primary objective of the Industrial Finance Corporation of India is to facilitate industrial development by providing financial assistance to industrial projects, promoting entrepreneurship, and contributing to the overall economic growth of the country.
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What is the main objective of the Industrial Finance Corporation of India (IFCI)?a)To regulate the stock market.b)To provide short-term loans to individuals.c)To promote and provide financial assistance to industrial projects.d)To manage the foreign exchange reserves.Correct answer is option 'C'. Can you explain this answer?
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