Specify the functions of IFCI.
- Long–term loans; both in rupees and foreign currencies.
- Underwriting of equity, preference, and debenture issues.
- Subscribing to equity, preference, and debenture issues.
- Guaranteeing the deferred payments in respect of machinery imported from abroad or purchased in India; and
- Guaranteeing of loans raised in foreign currency from foreign financial institutions.
Concept: Reserve Bank of India and Industrial Finance
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