Refinance institution

National Bank for Agricultural and Rural Development

(NABARD) Small Industries Development Bank of India (SIDBI) National Housing Bank (NHB)

National Bank For Agricultural And Rural Development

X The RBI constituted a Committee to Review
Arrangements for Institutional Credit for Agricultural and

Rural Development.
X X NABARD started functioning on 1st July 1982 it was established according to the preamble act

Objectives
1) NABARD will be an apex organization in respects of all matters relating to policy, planning and operation 2) the bank will serve as refinancing institution for industrial credit 3) It will provide direct lending to any institution 4) it will have organic link with the reserve banki

Functions
Credit Functions Developmental Functions Regulatory Functions

Functions
Credit Functions Developmental Functions Regulatory Functions

Small Industries Development Bank of India

I. The SIDBI was set up in October 1989 by the act of parliament.

II. It was wholly owned subsidiary of IDBI

Objectives
Initiate steps for technological up gradation and

modernization of existing units

Expand channels for marketing of SSI sector product in India and abroad Promote employment-oriented industries in semiurban areas

Functions
Refinances loans and advances extended by the primary lending institution to small scale industrial units. Discounts and rediscount bills arising from sales of machinery Extends seed capital/loan assistance under the National Equity Fund, Mahila Udyan Nidhi Provides services such as leasing and factoring Extends financial support to SSIDC and NSIC.

National Housing bank

It was set up in July 1988 An apex housing finance institution under the national housing bank act 1987. To promote housing finance institution both at

local and regional level

Objectives
1. Promote a sound, healthy, viable and cost-

effective housing finance

2. Promote a network of dedicated housing

finance institution,
3. Encourage public agencies to emerge as

facilitators and suppliers of service.

4. Make housing credit more affordable.

Activities
Promotion and Development Regulation and Supervision Financing Rural housing

Life Insurance Corporation Of India

It was started in India long ago, Till 1986 the insurance business was carried on by private companies In 1956 all life insurance business were nationalized It was set up on 1ST September 1956 under LIC act

Objectives
1) Spread life insurance and provide life insurance
production
2) Mobilize people savings through insurance linked

savings schemes.
3) Invest the funds to serve the best interest of both policy-holder and the nation. 4) Act as trustees of the policy holder