Which of the following is not considered as part of the All India Financial Institutions (AIFI) group, a collection of key financial regulatory bodies with significant roles in the financial markets in India?

Solution

The Reserve Bank currently oversees and supervises five All India Financial Institutions (AIFIs): Export-Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB), Small Industries Development Bank of India (SIDBI), and National Bank for Financing Infrastructure and Development (NaBFID). These institutions play a crucial role in the financial markets by engaging in credit extension, refinancing operations, and addressing the long-term financing requirements of the industrial sector. Additionally, the Export Credit Guarantee Corporation (ECGC), established under the Ministry of Commerce and Industry, operates independently to boost exports. It achieves this by offering credit insurance services to exporters, safeguarding them against non-payment risks arising from overseas buyers due to commercial and political factors.