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Ch 16: Sources of Long-term Finance (16.3: Special Financial Institutions…
Ch 16: Sources of Long-term Finance
16.1: Sources of Long-term Funds
16.2: Capital Markets
Primary
Secondary
16.3: Special Financial Institutions (SFI)
Industrial Development Bank of India
Year setup : 1964 (as a subsidiary of RBI)
Focus : All types of Industrial Loans, re-financing, bill discount etc
Became a Full Service Bank in 2004
Industrial Credit and Inv. Corp. of India (ICICI)
Loan Tenure: 15 yrs
Year Setup: 1955
Both companies and Proprietary and Partnership firms
ICICI (Parent company) vs. ICICI Bank
2002 Merger
Full Service Banking
Industrial Finance Corp. of India (IFCI)
Loan Tenure: 25 yrs
Year Setup: 1948
Mainly for Industrial Loans (or companies)
Loans repayable in 25 yrs; Guarantee for other sources
Industrial Investment Bank of India (IIBI)
Year Setup: 1997
Initial Focus Area: Small Sector Rehab
Currently focus: From Rehab to Development Banking
Small-scale Industrial Development Bank of India (SIDBI)
Year: 1990
Focus Area: Small Industries
State Financial Corporations (SFC)
Year Setup: 2000
Focus Area: State specific Industrial growth
Services Offered: Loans, Underwriting (but cannot buy shares), Guarantees, etc
Other Financial Institutions:
Life Insurance Corporation (LIC): 1956
General Insurance Corporation (GIC): 1973
Unit Trust of India (UTI): 1964
Export/Import Bank (EXIM) : 1982 (Initially setup as the International finance wing of IDBI)
Focus Area: Anything related to foreign financing (trade credit, JVs)
Venture Capital
16.4: Banks
Commercial Banks vs. Industrial Banks
16.5: Non-Banking Finance Corporation (NBFC)
16.6: Mutual Funds
16.6.1: Features of Mutual Funds
Open-Ended
Close-Ended
16.7: Leasing Companies
16.7: Leasing Companies (Chithambaram Group (1973), The Twentieth Century Finance
16.8: Foreign Sources
16.9: Retained Earings