The Hindu Business Line : IIFCL to launch take-out finance scheme next week
The youngest of the Development Financial Institutions (DFI), IIFCL has been progressing in a phased manner. During the Financial Sector Reforms period, the two leading DFIs, ICICI and IDBI were reverse-merged. IFCI, although being the first DFIs set up in 1948 (immediately after India's independence and before being declared Republic in 1950), but before India embarking its own Industrial Policy, has always been passing through difficult stages. Later, many DFIs were set up like EXIM Bank, NABARD, SIDBI, REC, PFC, etc., as also IL&FS and IDFC. Even then, there has always been deficiency of Institutions financing for Infrastructure Projects while Commercial Banks were meeting the requirements to some extent. IIFCL is now undertaking to bridge this gap in a planned way.