All India Financial Institutions: Difference between revisions

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-'''All India Financial Institutions''' ('''AIFI''') is a group composed of [[regulatory body|financial regulatory bodie]]s and [[Development finance institution|development finance institution]]s that play a pivotal role in the financial markets. Also known as "financial instruments", the financial institutions assist in the proper allocation of resources, sourcing from businesses that have a surplus and distributing to others who have deficits - this also assists with ensuring the continued circulation of money in the economy. Possibly of greatest significance, the financial institutions act as an intermediary between borrowers and final lenders, providing safety and liquidity. This process subsequently ensures earnings on the investments and savings involved.<ref>{{Cite web|url=https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=387#1|title=Reserve Bank of India - Reports}}</ref>
+'''All India Financial Institutions''' ('''AIFI''') is a group composed of [[regulatory body|financial regulatory bodie]]s  that play a pivotal role in the [[Financial market|financial markets]]. Also known as "[[Financial instrument|financial instruments]]", the financial institutions assist in the proper allocation of resources, sourcing from businesses that have a surplus and distributing to others who have deficits - this also assists with ensuring the continued [[Circulation (journal)|circulation]] of [[money]] in the economy. Possibly of greatest significance, the [[financial institutions act]] as an intermediary between borrowers and final lenders, providing safety and liquidity. This process subsequently ensures earnings on the [[Investment|investments]] and savings involved.<ref name="Reserve Bank of India - Reports">{{Cite web|url=https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=387#1|title=Reserve Bank of India - Reports}}</ref>
-In [[History of the Republic of India|Post-Independence]] India, people were encouraged to increase savings, a tactic intended to provide funds for investment by the Indian government. However, there was a huge gap between the supply of savings and demand for the investment opportunities in the country.<ref>{{Cite web|url=https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=387#1|title=Reserve Bank of India - Reports}}</ref>
+In [[History of the Republic of India|Post-Independence]] [[India]], people were encouraged to increase savings, a tactic intended to provide funds for investment by the Indian government. However, there was a huge gap between the supply of savings and demand for the investment opportunities in the country.<ref name="Reserve Bank of India - Reports"/>
 ==List of AIFIs==
-According to Economic Survey 2012-13,<ref>{{Cite web |url=http://indiabudget.nic.in/es2012-13/echap-05.pdf |title=Archived copy |access-date=2013-04-24 |archive-url=https://web.archive.org/web/20130425052712/http://indiabudget.nic.in/es2012-13/echap-05.pdf |archive-date=2013-04-25 |url-status=dead }}</ref> at the end of March 2012, there were four [[Regulatory Agency|financial regulatory bodies]] under the [[jurisdiction]] of   [[Reserve Bank of India]] as all-India Financial Institutions:
+According to Economic Survey 2012–13,<ref>{{Cite web |url=http://indiabudget.nic.in/es2012-13/echap-05.pdf |title=Archived copy |access-date=2013-04-24 |archive-url=https://web.archive.org/web/20130425052712/http://indiabudget.nic.in/es2012-13/echap-05.pdf |archive-date=2013-04-25 |url-status=dead }}</ref> at the end of March 2012, there were four [[Regulatory Agency|financial regulatory bodies]] under the [[jurisdiction]] of   [[Reserve Bank of India]] as all-India Financial Institutions:
 * [[Exim Bank (India)|Export - Import Bank of India]] (Exim Bank)
 * [[National Bank for Agriculture and Rural Development]] (NABARD)
 * [[Small Industries Development Bank of India]] (SIDBI)
 * [[National Housing Bank]] (NHB)
+In 2022, Reserve Bank of India has announced that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised by it as an All India Financial Institution (AIFI) under the RBI Act, 1934.
-==Industrial Development Bank of India==
+==[[Industry|Industrial]] Development Bank of India==
 {{main|IDBI Bank}}
 IDBI is no longer an AIFI and has been converted into a universal bank by the Government of India. The IDBI was established to provide credit for major financial facilities to assist with the industrial development of India. It was established in 1964 by RBI, and was transferred to the government of India in 1976. The government holdings in IDBI, after the IPO, is 51.4%.<ref>{{cite web|url=http://www.moneycontrol.com/company-facts/idbibank/history/IDB05|title=IDBI Bank - Company History|last=Dion Global Solutions Limited|work=Moneycontrol.com|publisher=e-Eighteen.com|accessdate=11 October 2011}}</ref> By the end of September 2004, the IDBI asset base was Rs. 36850 crore.<ref>{{cite book|last=D. K. Murthy, K. R. Venugopal|title=Indian Financial System|year=2009|publisher=I. K. International Pvt Ltd}}</ref>
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 In 1960, the first state industrial development corporations (SIDC)<ref>{{cite web|title=SIDC of himachal pradesh.|url=http://hpsidc.nic.in/|access-date=2011-09-26|archive-url=https://web.archive.org/web/20111005120346/http://hpsidc.nic.in/|archive-date=2011-10-05|url-status=dead}}</ref> were established in Bihar. These mainly autonomous bodies are controlled by the state government, who may own a stake in the corporation. There are approximately 29 SIDCs in India.
-Their main functions include the promotion of rapid industrialization in India. They mainly work at the grass roots level, providing development in the backward and less frequented parts of India. They offer financial leases and offer guarantees. They also administer the schemes of the central and state governments. The projects and surveys of the industrial potential areas are conducted by them, as well as the evaluation of SEZs.{{clarification needed|date=October 2018}}
+Their main functions include the promotion of rapid industrialization in India. They mainly work at the grass roots level, providing development in the backward and less frequented parts of India. They offer financial leases and offer guarantees. They also administer the schemes of the central and state governments. The projects and surveys of the industrial potential areas are conducted by them, as well as the evaluation of SEZs.{{clarify|date=October 2018}}
 ==Mutual funds==