Question: Which of the following is the first development bank of India?
A IFCI
B SFC
C NABARD
D State Industrial Development corporations
Answer: IFCI
| Aspect | Description |
| Name of development Bank Name | Industrial Finance Corporation of India (IFCI) |
| Founded | 1948 |
| Headquarters | New Delhi, India |
| Type | Public Financial Institution |
| Role | Providing long-term and medium-term financial assistance to industrial and business enterprises. |
| Significant Role | Played a crucial role in promoting industrialization and supporting economic growth in India. |
| Evolution | Over time, IFCI’s role has evolved, and it has been restructured into different entities as part of financial sector reforms in India. |