The Full Form of IFCI
IFCI Full Form – The Full Form of IFCI in banking terms is Industrial Finance Corporation of India, which is a non-banking public-oriented finance company. IFCI was established in 1948, and it has been listed on the Bombay Stock Exchange and National Stock Exchange ever since. The IFCI has one associate and about seven subsidiary branches under it, which provide financial support in projects concerning roads, airport, real estate, telecom, power, manufacturing and other service sectors. IFCI has played the major role in setting up intermediaries in the market related to stock exchange and several development organisations.
Until 1991, IFCI was responsible for the implementation of all the industrial policies which were the government’s initiatives towards the development of the industrial sector in the country. In 1993, IFCI was privatised by the government to increase its operational flexibility and it could access the capital market directly. IFCI has also financially assisted mega projects like GMR Goa International Airport, NRSS Transmission, Salasar Highways, Raichur Power Corporations, and Adani Mundra Ports.
IFCI acts as an intermediary agency for ‘Scheme of Credit Enhancement Guarantee for SC Entrepreneurs’ by providing them concessional finances, and it also gives guarantees to the lender banks against the loans sanctioned to start-up entrepreneurs belonging to the Scheduled Caste. IFCI along with the government of India has sponsored a joint venture fund of Rs. 200 crore for the SCs, which is managed by the subsidiary of IFCI Ltd. and it has also contributed Rs 50 crore as the lead investor.
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