#1
4th March 2016, 02:09 PM
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IFCI and SHCIL
Hello sir I would like to know about the IFCI and SHCIL terms so please provide me suitable information about these two terms.
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#2
4th March 2016, 02:09 PM
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Re: IFCI and SHCIL
IFCI, previously Industrial Finance Corporation of India, is an Indian government owned development bank to cater to the long-term finance needs of the industrial sector. Objectives and functions of IFCI Objectives The main objective of IFCI is to provide medium and long term financial assistance to large scale industrial undertakings. It functions when ordinary bank accommodation does not suit the undertaking or finance cannot be profitably raised by the concerned by the issue of shares. Functions The functions of the IFCI base as follows: (i) The corporation grants loans and advances to industrial concerns. (ii) Granting of loans both in rupees and foreign currencies. (iii) The corporation underwrites the issue of stocks, bonds, shares etc. (iv) The corporation can grant loans only to public limited companies and co-operatives but not to private limited companies or partnership firms. Stock Holding Corporation of India Ltd Stock Holding Corporation of India Ltd (SHCIL), India’s largest custodian and depository participant based in Mumbai, Maharashtra It was established in 1986 under the Government of India as public limited company. It is owned by the India's leading Banks and Financial Institutions such as, SU-UTI, IFCI Ltd., LIC, GIC, NIA, NIC, UIC, and TOICL. SHCIL is known for its online trading portal with investors and traders. It is also responsible for e-stamping system around India. Stock Holding Corporation of India (SHCIL), the country's first and one of the largest security custodians to financial institutions. |