1. Industrial Finance Corporation of India (IFCI):
It was established in July 1948 as a statutory corporation under the Industrial Finance Corporation Act, 1948 with the primary objective of providing long-term and medium-term finance to large industrial enterprises.
Its objectives include assistance towards balanced regional development, encouraging new entrepreneurs to enter into the priority sectors and the development of management education in the country. For ensuring greater flexibility to meet the needs of the changing financial system IFCI now stands transformed to IFCI Ltd. with effect from 1 June 1993.
2. State Financial Corporations (SFCs):
To provide financial assistance to proprietary and partnership firms as well as companies most of the states of our country have set up SFCs under The State Financial Corporations Act, 1951.
SFCs provide finance in the form of long-term loans or through subscription of debentures, offer guarantee to loans raised from other sources and take up underwriting of public issues of shares and debentures made by companies. However, they cannot directly subscribe to the shares issued by the companies.
3. Industrial Credit and Investment Corporation of India (ICICI):
This was established in 1955 as a public limited company under the Companies Act, 1956 for providing long-term loans to companies for a period up to 15 years and subscribe to their shares and debentures for the ultimate purpose of creation, expansion and modernisation of industrial enterprises exclusively in the private sector.
The proprietary and partnership firms were also entitled to secure loans from ICICI.It has also encouraged the participation of foreign capital in the country.
4. Industrial Development Bank of India (IDBI):
It was set up in 1964 as a subsidiary of Reserve Bank of India with an objective to coordinate the activities of other financial institutions including commercial banks and for providing financial assistance to all types of industrial enterprises without any restriction on the type of finance and the amount of funds.
It also discounts and rediscounts the commercial bills of exchange and undertakes underwriting of the public issues. IDBI has transformed into IDBI Ltd. with effect from 1 October 2004.
5. State Industrial Development Corporations (SIDC):
Many state governments have set up State Industrial Development Corporations in 1960s and early 1970s for promotions and development of medium and large-scale industries in their respective states.
The objectives of the SIDCs differ from one state to another. In addition to financial assistance, they also undertake a variety of promotional activities as well as incentive schemes of the central and state governments.
6. Unit Trust of India (UTI):
It was set up in 1964, under the Unit Trust of India Act, 1963. Â as an investment trust with capital of ` 5 crores subscribed by Reserve Bank of India, LIC, State Bank of India and other financial institutions.
The basic objective of UTI is to mobilise the community’s savings and channelize them into productive ventures.  It has also been extending financial assistance to the companies by way of term loans, bills rediscounting, equipment leasing and hire purchase financing.
7. Industrial Investment Bank of India Ltd.:
It was initially set up for rehabilitation of sick units and was known as Industrial Reconstruction Corporation of India. It was reconstituted and renamed as the Industrial Reconstruction Bank of India in 1985 and again in 1997 its name was changed to Industrial Investment Bank of India.
The Bank assists sick units in the reorganisation of their share capital, improvement in management system, and provision of finance at liberal terms.
8. Life Insurance Corporation of India (LIC):
LIC was set up in 1956 under the LIC Act, 1956 after nationalising 245 existing insurance companies. It mobilises the community’s savings in the form of insurance premium and makes it available to industrial concerns, both public as well as private, in the form of direct loans and underwriting of and subscription to shares and debentures.
9. Small Industries Development Bank of India (SIDBI):
It was set up in 1990 for the promotion, financing and development of small-scale industrial enterprises. It is an apex institution of all the banks providing credit facility to small-scale industries in our country and offers refinancing of bills, rediscounting of bills, and several other support services to Small Scale Industries (SSI).
10. General Insurance Corporation of India (GIC):
It was established in 1973 on nationalization of general insurance business in India. Like LIC, its investment priority is socially oriented sectors of the economy and invests its funds in government securities and share and debentures of companies. It also provides term loans and underwriting facility to new and existing industrial undertakings.
11. Export and Import Bank of India (EXIM Bank):
The Export and Import Bank of India was set up on January 1982 to take over the operations of international finance wing of the IDBI. The main functions of the Bank are: (i) financing of export and import of goods and services; (ii) granting medium- and long-term credit; (iii) providing loans to Indian parties to invest in joint ventures in foreign countries and (iv) extending refinance facilities to commercial banks in respect of export credit.