Name three special financial institutions and state their objectives

CBSE Class 11 CBSE Class 11 Business Studies
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The three special financial institutions are as following:

  1. Industrial Finance Corporation of India (IFCI) : Its objectives include promoting balanced regional development and encouraging new entrepreneurs to enter into the priority sectors of the country.
  2. Unit Trust of India (UTI) : The basic objective of UTI is to mobilise the community’s savings and channelise them into productive ventures.
  3. Industrial Development Bank of India (IDBI) : It was established in 1964 with an objective to co-ordinate the activities of other financial institutions, including Commercial Banks.