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Indian Financial Institutions

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Indian Financial Institutions

Indian Financial Institutions

shape Introduction

A financial institution is an organization that channels different financial transactions including investments, loans and deposits. This is an important topic for General Awareness section of different competitive exams.

shape Institutions

Financial Institutions are an integral part of human life. Financial Institutions are interacted with on a regular basis in the form of depositing money, borrowing loans, exchanging currencies among other activities. There are different types of financial institutions as shown below.

  • Depository Institutions – deposit taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies.

  • Contractual Institutions – insurance companies and pension funds.

  • Investment Institutions – investment banks, underwriters, brokerage firms.

shape Abbreviations

S.No. Abbreviations Expansions
1 DFHI Discount and Finance House of India Ltd.
2 EXIM Bank Export – Import Bank of India
3 GIC General Insurance Corporation of India
4 HUDCO Housing and Urban Development Corporation Ltd.
5 IDBI Industrial Development Bank of India
6 IDFC Infrastructure Development Finance Co. Ltd.
7 IFCI Industrial Finance Corporation of India
8 IRBI Industrial Reconstruction Bank of India
9 IREDA Indian Renewable Energy Development Agency Ltd.
10 IRFC Indian Railways Finance Corporation Ltd.
11 LIC Life Insurance Corporation of India
12 NABARD National Bank for Agriculture and Rural Development
13 NHB National Housing Bank
14 PFC Power Finance Corporation Ltd.
15 RCTC Risk Capital and Technology Finance Corporation Ltd.
16 REC Rural Electrification Corporation Ltd.
17 SCICI Shipping Credit and Investment Company of India Ltd.
18 SIDBI Small Industries Development Bank of India
19 STCI Securities Trading Corporation of India Ltd.
20 TDICI Technology Development and Information Company of India Ltd.
21 TFCI Tourism Finance Corporation of India Ltd.
22 UTI Unit Trust of India