Financial Institutions Assisting industrialists

Financial Institutions Assisting industrialists

Began in 1948 with the establishment of Indian Finance CorIn India the task of constituting financial institutions poration. Since then the government has set up many specific about 70 specific financial institutions are operational in Infinance institutions to encourage entrepreneurship. Today dia and they provide finance and other technical training, als, tactical analysis, services determining possible entrepr technical counselling, managerial services, project proposneurs etc. their description is as follows –

All India Financial Institutions

1.Industrial Finance Corporation of India

2. Industrial Development Bank of India

3.Industrial Credit and Exchange Corporation

4. Industrial Reconstruction Bank of India
5. Unit Trust of India
6. Life Insurance Corporation of India
7. General Insurance Corporation of India
8. Indian Export – Import Bank
9. State Industrial Corporation of India.
10. National Bank for Agriculture and Rural De-
    velopment
11. Small Industries Development Bank of India
12. Risk Capital and Technological Finance Cor-
    poration Limited
13. National Small Industries Corporation Limited
14. Indian Stock Bearing Corporation Limited
15. Technological Development and Information
    Company Limited of India

B. State level financial institutions

1. State Finance Corporations (18 Corporations
   working)

2.State Industrial Development Corporations
(28 corporations working)

3.State Industrial Investment Corporation

4. Technical Consultancy Organizations (18 or-
   ganizations working)

C. Foreign Financial Organizations

1.International Finance Corporation

2 Asian Development Bank

3. Investment by oil exporting developing ntions.

These financial institutions are called Development Banks or Development Financial Institutions. All these institutions have an important contribution in planned enhancement of industries. In the past three decades more money has been made available by these organizations for the various schemes. In the year 1994 – 95 nearly 60% of the total institutionalized capital was for new entrepreneurs. In this way these institutions have contributed to achieve the development target based on entrepreneurship. They are constantly trying for growth and development of small industries, undeveloped sectors and entrepreneurs.