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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