Discussion
IDBI serves as the ------------------- institution for term finance to industries.
Answer: A
Correct answer: APEX
IDBI was established in 1964 as the apex institution for term finance to industry - sitting above the other development finance institutions, refinancing their lending, coordinating their activity and lending directly to large projects itself.
The apex role was formalised when IDBI was delinked from the RBI in 1976 and made an autonomous corporation. The model was later dismantled as capital markets deepened and the institutions lost their access to concessional funds, and IDBI itself converted into a commercial bank in 2004.
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