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IFCI's Role in India's Industrial Growth

The Industrial Finance Corporation of India (IFCI) was set up in 1948 by the Government of India as the country's first development financial institution. IFCI provides medium and long-term financing to industrial sectors to promote their growth. It has authorized capital of Rs. 20 crores, half of which is held by IDBI and other banks and financial institutions. Over the years, IFCI has sanctioned Rs. 462 billion to 5707 industrial projects, catalyzing investments of Rs. 2,526 billion. Key sectors supported include textiles, sugar, fertilizers, cement, iron and steel, and infrastructure like power and telecom.

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Abdul Rahman Khan
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171 views11 pages

IFCI's Role in India's Industrial Growth

The Industrial Finance Corporation of India (IFCI) was set up in 1948 by the Government of India as the country's first development financial institution. IFCI provides medium and long-term financing to industrial sectors to promote their growth. It has authorized capital of Rs. 20 crores, half of which is held by IDBI and other banks and financial institutions. Over the years, IFCI has sanctioned Rs. 462 billion to 5707 industrial projects, catalyzing investments of Rs. 2,526 billion. Key sectors supported include textiles, sugar, fertilizers, cement, iron and steel, and infrastructure like power and telecom.

Uploaded by

Abdul Rahman Khan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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IFCI

INDUSTRIAL FINANCE CORPORATION OF INDIA


Mr Atul Kumar
Rai
CEO and Managing Director

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INTRODUCTION
• The Government of India set up the IFCI under IFCI Act
in July 1948.

• It is the first development financial institution in the


country to cater to the long-term finance needs of the
industrial sectors.

• The main objective of IFCI is to making medium & long


term credits more readily available for industrial
concerns in India.

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 The main focus of The Industrial Finance
Corporation was to provide long-term financial
benefits to various sectors in Indian industry and it
has fulfilled it quite efficiently. IFCI carried out all
the responsibilities regarding Government's
industrial policy initiatives till the establishment of
ICICI in 1956 and IDBI in 1964. 

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CAPITAL
◦ The authorized capital of the
corporation as per IFCI Act 1948, was
Rs.10 crores. It was raised to Rs.20
crores by the Amendment Act 1972.
◦ 50% of the share capital is held by
the IDBI & remaining 50% by banks,
cooperative banks, insurance
company, investment trusts etc.,

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BOARD OF DIRECTORS
 Mr Atul Kumar Rai- CEO and Managing
Director (since July, 2007)
 Mr Prakash P Mallya-Chairman of the Board
 Mr K V Eapen- Joint Secretary, Department of

Financial Services
 Mr Sanjeev Kumar Jindal
 Mr Shilabhadra Banerjee
 Mr P G Muralidharan

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INDIAN ECONOMY AND IFCI
 
It made a significant contribution to the
modernization of Indian industry, export
promotion, import substitution, pollution
control, energy conservation and generation
through commercially viable and market-
friendly initiatives. Some sectors that have
directly benefited from IFCI include:

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 Agro-based industry (textiles, paper, sugar) 
 Service industry (hotels, hospitals) 
 Basic industry (iron & steel, fertilizers, basic

chemicals, cement) 
 Capital & intermediate goods industry

(electronics, synthetic fibres, synthetic


plastics, miscellaneous chemicals) and
Infrastructure (power generation, telecom
services)

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IFCI's ECONOMIC CONTRIBUTION
 IFCI has sanctioned financial assistance of Rs
462 billion to 5707 concerns
 IFCI has catalysed investments worth Rs

2,526 billion in the industrial and


infrastructure sectors.  
 6.5 million spindles in the textile industry
 7.2 million tons per annum (tpa) of sugar

production
 1.7 million tpa of paper and paper products

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 18.5 million tons tpa of fertilizers
 59.3 million tpa of cement
 30.2 million tpa of iron and steel
 32.8 million tpa of petroleum refining
 14,953 MW of electricity
 22,106 hotel rooms
 5,544 hospital beds
 8 port projects, 66 telecom projects and 1

bridge project.

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ABDUL RAHMAN KHAN

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