Question
How NABARD is different from TFCI.
| S.No | NABARD National Bank for Agriculture and Rural Development |
TFCI Tourism Finance Corporation of India |
| 1. | NABARD was established according to the preamble to the Act, “for providing credit for the promotion of: • Agriculture • Small-scale Industries • Cottage and Village Industries • Handicrafts and other rural crafts • Other economic activities in rural areas with a view to promoting IRDP and securing prosperity of rural areas....” |
TFCI provides financial assistance to enterprises for setting up or the development of tourism-related projects, facilities and services such as hotels, restaurants, holiday resorts, amusement parks, entertainment centres, education and sports, rope ways, cultural centres, convention halls, transport, travel and tour operating agencies, air services, tourism emporia and sports facilities. |
| 2. | The bank will serve as a financing institution for institutional credit such as long-term, short-term, and for the promotion of activities in rural areas. | The bank will serve as a financing institution for institutional credit such as long-term. The projects with a capital cost of RS. 1 crore or above are generally eligible for assistance from TFCI. Smaller projects would also be considered. |
| 3. | To provide direct lending to any institution as may be approved the central Government. | It also provides advisory and merchant banking sendees in this field. |
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