Which of the following provide financial assistance to industries?

The Industrial Finance Corporation of India (IFCI), established in 1948, was India's first statutory corporation designed to provide medium and long-term finance to the manufacturing and infrastructure sectors [c1, t2]. The Industrial Credit and Investment Corporation of India (ICICI) was set up in 1955 to provide long-term credit and equity support for industrial development [c2, t7]. The Industrial Development Bank of India (IDBI) was established in 1964 as an apex institution to coordinate the activities of other financial institutions and provide direct financial assistance to industries [c2, t2]. These institutions are categorized as Development Financial Institutions (DFIs) or term-lending institutions specifically created to foster rapid industrialization by addressing the long-term capital requirements of the industrial sector [t4, t5]. Consequently, all three organizations are primary providers of financial assistance to industries in India.

Sources

1. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 7: Money and Banking > Industrial Finance Corporation of India > p. 182
2. [2] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 3: Money and Banking - Part II > 3.5 Development Financial Institutions (DFIs) > p. 134
3. [3] https://www.lkouniv.ac.in/site/writereaddata/siteContent/202004021912557413geetika_INDIAN_FINANCIAL_SYSTEM.pdf
4. [4] https://sathee.iitk.ac.in/article/banking-article/development_banks_in_india_meaning__types__features__amp_short_notes/