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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
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Which one of the following is the main objective of IFCI ?
Which one of the following is the main objective of IFCI ? (1) 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. (2) To upgrade technology, modernization and to promote marketing of products of small scale sector. (3) To serve as the apex institution for term finance for industry with coordination, regulation and supervision of the working of other financial institution. (4) 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.
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Eduncle Best Answer
The main objective of the IFCI as laid down in the preamble to the IFCI Act, 1948 was to make medium and long-term credits more readily available to industrial concerns in India, particularly in circumstances where normal banking accommodation is inappropriate or resources to capital issue method is impractical.