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    Question

    All India Financial Institutions (AIFI) is a group

    composed of financial regulatory bodies that play a pivotal role in the financial markets. Which of the following is not one of the All-India Financial Institutions in India?
    A EXIM Bank Correct Answer Incorrect Answer
    B National Housing Bank Correct Answer Incorrect Answer
    C NABARD Correct Answer Incorrect Answer
    D Export Credit Guarantee Corporation (ECGC) Correct Answer Incorrect Answer
    E SIDBI Correct Answer Incorrect Answer

    Solution

    Currently, the five AIFIs regulated and supervised by the Reserve Bank are 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). They play a salutary role in the financial markets through credit extension and refinancing operation activities and cater to the long-term financing needs of the industrial sector. ECGC was established to promote exports by providing credit insurance services to exporters against non-payment risks by the overseas buyers due to commercial and political reasons. And it is wholly owned by the Ministry of Commerce and Industry.  

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