IFCI Ltd. was set up in 1948 as Industrial Finance Corporation of India, a Statutory Corporation, through `The Industrial Finance Corporation of India Act, 1948’ of Parliament to provide medium and long term finance to industry. After repeal of this Act in 1993, IFCI became a Public Limited Company registered under the Companies Act, 1956. IFCI became a Government controlled company subsequent to enhancement of equity shareholding to 55.53% by Government of India on December 21, 2012. In April, 2015, Government of India has acquired six crore Preference Shares of IFCI Ltd. of Rs.10/- each from six public sector banks.With this, the shareholding of the Government of India in paid-up share capital of IFCI has been increased to 51.04% and IFCI has become a Government Company under Section 2(45) of the Companies Act, 2013. IFCI is also a Systemically Important Non-Deposit taking Non-Banking Finance Company (NBFC-ND-SI), registered with the Reserve Bank of India.
Its main products are
A. Term Loans
B. Corporate Loans
C. Short Term Loans (up to 1 year)
D. Loan against Shares
E. Loans to NBFC's
Industry
Financial Services, Nondepository Credit Intermediation, Finance and Insurance
HQ Location
61, IFCI TOWER
NEHRU PLACE
NEW DELHI, DELHI 110019, IN
Keywords
Project FinanceCorporate LoansDebt/Equity Participatiolease servicestoilet blockstower bondsugar development fundfacility toiletfacility toilet blocksgovernment schemes sugar