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Development Financial Institutions
What is the primary purpose of Development Financial Institutions (DFIs) in India?
DFIs provide medium and long-term finance to industrial and infrastructure sectors that commercial banks typically avoid due to maturity mismatch, thus bridging the gap between short-term commercial credit and long-term developmental needs.
What year was NABARD established and under which Act?
NABARD was established in 1982 under the NABARD Act.
Which institution is considered the apex development finance institution for industry in India?
IDBI (Industrial Development Bank of India) was established in 1964 as the apex DFI for industrial finance in India, though it was later converted into a commercial bank and subsequently re-notified as a DFI in 2021.
What is the full form of SIDBI?
Small Industries Development Bank of India.
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