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Questions
What do you mean by Industrial Banks?
Explain industrial banks.
Solution
- Huge amounts of finance required for investment, expansion, and modernisation of big industries and others are granted by a separate type of bank called development banks. They are also called industrial banks.
- Industrial banks are the banks which provide long-term finance, technical and managerial advice to industries. Their main aim is to assist in the promotion of new industrial units and in the expansion and modernisation of the existing units. IFCI is an industrial bank.
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