Financial Institutions in India: Key Points to Remember

NABARD ( National Bank for Agriculture and Rural Development )

Established: NABARD was established on 12th July 1982 on the recommendation of CRAFICARD committee which is also known as the Sivaraman Comittee.
Headquarter: Mumbai, Maharashtra.
Chairman: Harsh Kumar Bhanwala.
Primary Function: 
  • NABARD is the apex organisation related to financing in the agricultural sector.
  •  It looks after matters concerned with policy, planning and operations in rural areas in India. 
  • Rural Infrastructure Development Fund (RIDF) are operated by NABARD.

SIDBI ( Small Industries Development Bank of India )

Established: Small Industries Development Bank of India (SIDBI in short) was established on 2nd April 1990 under the Small Industries Development Bank of India Act 1989 as a subsidiary of Industrial Development Bank of India.
Headquarter: Lucknow, Uttar Pradesh.
Chairman: Dr. Kshatrapati Shivaji.
Primary Function: 
  • SIDBI is an independent financial institution which provides help for the growth and development of micro, small and medium-scale enterprises (MSME’s).

SEBI ( Securities and Exchange Board of India )

Established: SEBI was first set up as a non statutory body in April 1988, to regulate the working of stock exchange. Later it was made an autonomous body on 12 April 1992 via SEBI Act 1992.
Headquarter: Mumbai, Maharashtra.
Chairman: Upendra Kumar Sinha.
Primary Function: 
  • SEBI is the security market regulator in India.

IRDAI ( Insurance Regulatory and Development Authority of India )

Established: IRDDAI was set up in the year 1999 by the Insurance Regulatory and Development Authority Act, 1999, which was passed by the Government of India.
Headquarter: Hyderabad, Telengana.
Chairman: T.S. Vijayan.
Primary Function: 
  • The IRDAI is an autonomous, statutory agency tasked with regulating and promoting the insurance and re-insurance industries in India.

EXIM BANK ( Export Import Bank )

Established: EXIM Bank was established on January 1, 1982 for the purpose of financing, facilitating and promoting foreign trade of India.
Headquarter: Mumbai, Maharashtra.
Chairman: Yaduvendra Mathur.
Primary Function: 
  • The Export-Import (EXIM) Bank of India is the principal financial institution in India for coordinating the working of institutions engaged in financing export and import trade.

NHB ( National Housing Bank )

Established: The bank started its operations from July 1988. National Housing Bank was established under section 6 of National Housing Bank Act (1987).
Headquarter: New Delhi
Chairman: Sriram Kalyanaraman.
Primary Function: 
  • The National Housing Bank (NHB), the apex institution of housing finance in India, was set up as wholly owned subsidiary of the Reserve Bank of India.

ECGC ( Export Credit Guarantee Corporation of India )

Established: ECGC Ltd. was established on 30 July, 1957 to strengthen the export promotion by covering the risk of exporting on credit.
Headquarter: Mumbai, Maharashtra.
Chairman: Geetha Muralidhar
Primary Function: 
  • Export Credit Guarantee Corporation of India. This organisation provides risk as well as insurance cover to the Indian exporters.

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