Industrial Development Bank of India
Industrial Development Bank of India (IDBI) was stashed as statutory corporation of July 1, 1964. It is the principal financial institution of the country.
Objectives :(i) to coordinate, regulate and supervise the activities of other financial institution (ii) to supplement the resources of other financial institutions there enlarging the scope of third assistance (iii) to provide loans and guarantees to industries (v) to devise and enforce a system of industrial growth which can conform to national priorities. (v) To provide technical and managerial assistance.
Functions: (i) IDBI provides long term-own and advances to industrial concerns. (ii) It guarantees loans raised by industrial concerns form other sources. (iii) It subscribes to and underwrites shoran debentures issued by industrial concerns. (iv) It accepts discounts and rediscounts bills of exchange or promissory notes issued by industrial concerns. (v) It provides refinance facilities in respect of armloads and loans advanced by scheduled bans against exports (vi) It provides and arranges technical and managerial assistance for promotion and expansion of industry soaps to fill gaps in the industrial structure. (vii) It undertakes research and surveys in the field of investment and marketing.