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Question
In 1948, Industrial Finance Corporation of India was formed for ______.
Options
better development of the industrial sector.
making available long term loans to industrial projects.
generating employment
determining the quality of finished goods.
Solution
In 1948, the Industrial Finance Corporation of India was formed for making available long-term loans to industrial projects.
Explanation:
After India became independent, the main function of the IFCI was to provide medium and long-term loans and advances to industrial and manufacturing concerns. It looks into a few factors before granting any loans. They study the importance of the industry in our national economy, the overall cost of the project, and finally the quality of the product and the management of the company.
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