STRUCTURE

SNAP
Test
duration
is
of
120
minutes
st
Date: 21 December, 2014; Time: 14.00 hrs. 16.00 hrs.
SNAP Test is an objective test. Each question has 4 responses. Candidate
should
choose
an
appropriate
response.
Each
wrong
answer
attracts
25%
negative
marks
Candidate must use Blue or Black ball point pen only

SR.NO.

SECTIONS

TOTAL
MARKS

General English: Reading

Comprehension, Verbal
Reasoning, Verbal Ability

40

Quantitative Data Interpretation &

Data Sufficiency

40

General Awareness: General

Knowledge, Current Affairs,
Business Scenario

40

Analytical & Logical Reasoning

60

Total

180

The Industrial Development Bank of India is the apex financial

institution in the field of development banking in the country. It
was established in July, 1964 with the twin objectives of:
(a) meeting the growing financial
industrialization in the country, and

needs

of

rapid

(b) coordinating the activities and assisting the growth of all

institutions engaged in financing industries.
It is an organization with sufficiently large financial resources
which not only provides direct financial assistance to the large
and medium-large industrial units, but also helps the small and
medium industries indirectly by extending refinancing and rediscounting facilities to other industrial financing institutions.
Thus, the primary aim of the IDBI has been to integrate the
structure of industrial financing institutions and to fill the gap
between demand and supply of term finance in the country.
Initially, the IDBI was set up as a wholly owned subsidiary of
the Reserve Bank of India, but, in 1976, it was taken over by the
Government of India and was made an autonomous institution.

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The Industrial Development Bank of India is the apex financial

institution in the field of development banking in the country. It
was established in July, 1964 with the twin objectives of:
(a) meeting the growing financial
industrialization in the country, and

needs

of

rapid

(b) coordinating the activities and assisting the growth of all

institutions engaged in financing industries.
It is an organization with sufficiently large financial resources
which not only provides direct financial assistance to the large

and medium-large industrial units, but also helps the small and
medium industries indirectly by extending refinancing and rediscounting facilities to other industrial financing institutions.
Thus, the primary aim of the IDBI has been to integrate the
structure of industrial financing institutions and to fill the gap
between demand and supply of term finance in the country.
Initially, the IDBI was set up as a wholly owned subsidiary of
the Reserve Bank of India, but, in 1976, it was taken over by the
Government of India and was made an autonomous institution.

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Short Essay on the Republic Day

Essay on Patriotism - Healthy Trends in India

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Education Observer Career Discussions / Career

Discussions of Indian Academia / Study Zone /
Indian Banking and Finance
/ Explain in short about Industrial Finance
Corporation Of India Ltd (IFCI)

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Explain in short about Industrial Finance Corporation

Of India Ltd (IFCI)
12-29-2009, 03:22 AM
Post: #1

neetubm
Golden Member

Posts: 108
Joined: Dec 2009
Reputation: 2

Explain in short about Industrial Finance Corporation Of India

Ltd (IFCI)

IFCI was established under IFCI Act 1948 during July 1948
as Indias first development bank. The main objective for
which IFCI was established, are to make medium and long
term credit available to the industrial undertakings and to
assist them in creation of industrial facilities.
Its functions include:
- Direct financial support (by way of rupee term loans as
well as foreign currency loans) to industrial units for
undertaking new projects, expansion, modernization,
diversification etc.
- Subscription and underwriting of public issues of shares
and debentures.
- Guaranteeing of foreign currency loans and also deferred
payment guarantees.
- Merchant banking, leasing and equipment finance
During 1994, IFCI was converted into a joint-stock
company and came out with a public issue of shares. It is
managed by a Board of Directors. It floated institutions
such as TFCI, ICRA etc.

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(a) This Commission endorses and reiterates the views of the

Twelfth Finance Commission regarding the working of the SFCs
as listed in paragraph 3.5.2.8.
(b) Article 243 I (1) of the Constitution should be amended to
include the phrase "at such earlier time" after the words "every
fifth year".
(c) Each State should prescribe through an Act, the
qualifications of persons eligible to be appointed as Members of
the State Finance Commission.
(d) SFCs should evolve objective and transparent norms for
devolution and distribution of funds. The norms should include
area-wise indices for backwardness. State Finance Commissions
should link the devolution of funds to the level/quality of civic
amenities that the citizens could expect. This could then form
the basis of an impact evaluation.
(e) The Action Taken Report on the recommendations of the
SFC must compulsorily be placed in the concerned State
Legislature within six months of submission and followed with
an annual statement on the devolution made and grants given
to individual local bodies and the implementation of other
recommendations through an appendix to the State budget
documents.
(f) Incentives can be built into devolution from the Union to the
States to take care of the need to improve devolution from the
States to the third tier of governments.

(g) Common formats, as recommended by the Twelfth Finance

Commission (TFC) must be adopted, and annual accounts and
other data must be compiled and updated for use by the SFCs.
Capacity Building for Self-Governance
(a) Capacity building efforts in rural and urban local selfgoverning institutions must attend to both the organisation
building requirements as also the professional and skills up
gradation of individuals associated with these bodies, whether
elected or appointed.
Relevant Panchayat and Municipal legislations and manuals
framed there under must contain clear enabling provisions in
this respect. There should be special capacity building
programmes for women members.
(b) State Governments should encourage local bodies to
outsource specific functions to public or private agencies, as
may be appropriate, through enabling guidelines and support.
Outsourcing of activities should be backed by development of
in-house capacity for monitoring and oversight of outsourced
activities. Likewise, transparent and fair procurement
procedures need to be put in place by the State Government to
improve fiscal discipline and probity in the local bodies.
(c) Comprehensive and holistic training requires expertise and
resources from various subject matter specific training
institutes. This can be best achieved by 'networking' of
institutions concerned with various subjects such as financial
management, rural development, disaster management and
general management. This should be ensured by the nodal
agencies in State Governments.

(d) As an aid to capacity building, suitable schemes need to be

drawn up under State Plans for Rural and Urban Development
for documentations of case studies, best practices and
evaluation with reference to the performance of the prescribed
duties and responsibilities of such bodies.
(e) Training of elected representatives and personnel should be
regarded as a continuing activity. Expenditure requirement on
training may be taken into account by the State Finance
Commissions while making recommendations.
(f) Academic research has a definite role to play in building
long-term strategic institutional capacity for greater public
good. Organisations like the Indian Council of Social Science
Research must be encouraged to fund theoretical, applied and
action research on various aspects of the functioning of local
bodies.
(g) A pool of experts and specialists (e.g. engineers, planners
etc.) could be maintained by a federation/ consortium of local
bodies. This common pool could be then accessed by the local
bodies whenever required for specific tasks.

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What are the main functions of

Small Industries Service
Institute (SISIs)?
SAMEER
ARTICLES

At the heart of all agencies dealing with development of small

industry is small industries development organization, SIDO. It
was originally know as central small industries organization
(CSIO). Attached to the ministry, SIDO administers small
industries service institute (SISIs).
The small industries service institutes (SISIs) are set-up one in
each state to provide consultancy and training to small and
prospective entrepreneurs. The activities of SISs are co-ordinate
by the industrial management training division of the DC, SSI
office (New Delhi). In all there are 28 SISIs and 30 Branch
SISIs set up in state capitals and other places all over the
country.
SISI has wide spectrum of technological, management and
administrative tasks to perform.
Functions of SISI
1. To assist existing and prospective entrepreneurs through
technical and managerial counseling such as help in selecting

the appropriate machinery and equipment, adoption of

recognized standards of testing, quality performance etc;
2. Conducting EDPs all over the country;
3. To advise the Central and State governments on policy
matters relating to small industry development;
4. To assist in testing of raw materials and products of SSIs,
their inspection and quality control;
5. To provide market information to the SISIs;
6. To recommend SSIs for financial assistance from financial
institutions;
7. To enlist entrepreneurs for partition in Government stores
purchase programme;
8. Conduct economic and technical surveys and prepare technoeconomic feasible reports for selected areas and industries.
9. Identify the potential for ancillary development through subcontract exchanges;
10. Organize seminars, Workshops and Industries Clinics for
the benefit of entrepreneurs.
The Small Industries Service Institutes have been generally
organizing the following types of EDPs on specialized courses
for different target groups like energy conservation, pollution

control, Technology up-gradation, Quality improvement,

Material handling, Management technique etc. as mentioned
earlier.
General EDP for educated unemployed youth, ex-service
personnel etc. for a duration of four weeks. In these
programmes, classroom lectures and discussions are held on
issues such as facilities and assistance available from State and
Central government agencies, banks, financial institutions and
National Small Industries Corporation.
Apart from this, exposure is given information regarding market
survey, product identification and selection, technologies
involved, management of small enterprises, particularly in
matters relating to financial management, marketing, packaging
and exports.
The participants also interact with successful small scale
entrepreneurs as a part of their experience sharing Information
of quality; possibilities of diversification and expansion are also
given.
The entrepreneurs are helped to prepare Project Reports based
on their own observations and studies for obtaining financial
assistance as may be required. Such courses have benefitted
many entrepreneurs to set up units of their own choice.

The 'District Industries Centre' (DICs) programme was started

by the central government in 1978 with the objective of

providing a focal point for promoting small, tiny, cottage and

village industries in a particular area and to make available to
them all necessary services and facilities at one place. The
finances for setting up DICs in a state are contributed equally by
the particular state government and the central government. To
facilitate the process of small enterprise development, DICs
have been entrusted with most of the administrative and
financial powers. For purpose of allotment of land, work sheds,
raw materials etc., DICs functions under the 'Directorate of
Industries'. Each DIC is headed by a General Manager who is
assisted by four functional managers and three project
managers to look after the following activities :

Activities of District Industries Centre

(DIC):
i. Economic Investigation
ii. Plant and Machinery
iii. Research, education and training
iv. Raw materials
v. Credit facilities
vi. Marketing assistance
vii. Cottage industries

Objectives of District Industries Centre

(DIC):

The important objectives of DICs are as follow :

i. Accelerate the overall efforts for industrialisation of the
district.
ii. Rural industrialisation and development of rural industries
and handicrafts.
iii. Attainment of economic equality in various regions of the
district.
iv. Providing the benefit of the government schemes to the new
entrepreneurs.
v. Centralisation of procedures required to start a new industrial
unit and minimisation- of the efforts and time required to
obtain various permissions, licenses, registrations, subsidies
etc.

Functions of District Industries Centre

(DIC):
i. Acts as the focal point of the industrialisation of the district.
ii. Prepares the industrial profile of the district with respect to :
iii. Statistics and information about existing industrial units in
the district in the large, Medium, small as well as co-operative
sectors.
iv. Opportunity guidance to entrepreneurs.
v. Compilation of information about local sources of raw
materials and their availability.

vi. Manpower assessment with respect to skilled, semi-skilled

workers.
vii. Assessment of availability of infrastructure facilities like
quality testing, research and development, transport, prototype
development, warehouse etc.
viii. Organises
programs.

entrepreneurship

development

training

ix. Provides information about various government schemes,

subsidies, grants and assistance available from the other
corporations set up for promotion of industries.
x. Gives SSI registration.
xi. Prepares techno-economic feasibility report.
xii. Advices the entrepreneurs on investments.
xiii. Acts as a link between the entrepreneurs and the lead bank
of the district.
xiv. Implements government sponsored schemes for educated
unemployed people like PMRY scheme, Jawahar Rojgar Yojana,
etc.
xv. Helps entrepreneurs in obtaining licenses from the
Electricity Board, Water Supply Board, No Objection
Certificates etc.
xvi. Assist the entrepreneur to procure imported machinery and
raw materials.

xvii. Organises marketing outlets in liaison with other

government agencies.
What is Marketing Research? Meaning

Marketing Research has two words, viz., marketing and research.

1. Marketing means buying and selling activities.
2. Research means a systematic and complete study of a problem. It is
done by experts. It uses scientific methods.
Thus, we can say, Marketing Research is a systematic method of
collecting, recording and analyzing of data, which is used to solve
marketing problems.

Image credits A3sthetix.

A company faces many marketing problems. It faces problems about

consumers, product, market competition, sales promotion, etc. Marketing
research helps to solve these problems.
Marketing research is a systematic process. It first collects data
(information) about the marketing problem. Secondly, it records this
data. Then it analysis (studies) this data and draws conclusions about it.
After that, it gives suggestions (advice) for solving the marketingproblem.
So, marketing research helps to solve the marketing problems quickly,
correctly and systematically.
Marketing research collects full information about consumers. It finds out
the needs and expectations of the consumers. So the company
produces the goods according to the needs and expectations of the
consumers.
Marketing research helps the company to make its production and
marketing policies. It helps the company to introduce new products in the
market. It helps to identify new-markets.
Marketing research also collects full information about the competitors.
The company uses this information to fight competition. It also helps the
marketing manager to take decisions.
Marketing research is a special branch and soul of 'Marketing
Management'. It is of recent origin and widely used by manufacturers,
exporters, distributors and service organisations.

Marketing research is very systematic, scientific, objective and

organised. It has a wide scope. It includes product research, consumer
research, packaging research, pricing research, etc.
Marketing research is a continuous process. It has a few limitations.
However, a company cannot survive and succeed without it.

Definition of Marketing Research

There are many definitions of marketing research. Some important ones

are:
1. According to American Marketing Association (AMA),
Marketing Research is the systematic gathering, recording and
analysing of data about problems relating to the marketing of goods and
services.
2. According to Philip Kotler,
Marketing research is a systematic problem analysis, model building
and fact finding for the purpose of improved decision-making and control
in the marketing of goods and services.
3. According to Paul Green and Donald Tull,
Marketing research is the systematic and objective search for, and
analysis of, information relevant to the identification and solution of any
problem in the field of marketing.
4. According to David Luck, Donald Taylor and Hugh Wales,

Marketing Research is the application of scientific methods in the

solution of marketing problems.
Read following articles to know more on the concept of marketing
research:
1. Objectives of marketing research.
2. Functions of marketing research.
3. Need for marketing research.
4. Importance of marketing research.
5. Limitations of marketing research.
6. Distinguish between MIS and marketing research.

Features of Marketing Research

The salient characteristics or features of marketing research are as

follows:
1. Wide and comprehensive scope - Marketing research has a very wide
scope. It includes product research, packaging research, pricing
research, market research, sales research, etc. It is used to solve
marketing problems and to take marketing decisions. It is used to
make marketing policies. It is also used to introduce new products in
the market and to identify new markets. Marketing research is used to
select channels of distribution, in advertising strategy, for sales
promotion measures, etc.

2. Systematic and scientific - Marketing research is conducted in a stepby-step manner. It is conducted in an orderly fashion. Therefore, it is
systematic. Marketing research uses scientific methods. Thus, it is
also scientific.
3. Science and art : A Science collects knowledge (data) while an Art
uses this knowledge for solving problems. Marketing research first
collects data. It then uses this data for solving marketing problems.
Therefore, it is both, a Science and an Art.
4. Collects and analyzes data - Marketing research gathers data accurately
and objectively. It first collects reliable data and then analyses it
systematically and critically.
5. Continuous and dynamic process - The company faces marketing
problems throughout the year. So, Marketing research is conducted
continuously. It continuously collects up-to-date data for solving the
marketing problems. Large companies have their own marketing
research departments. They conduct Marketing research continuously
throughout the year. Therefore, Marketing research is a continuous
process. It is a dynamic process because it goes on changing. It does
not remain static (the same). It uses new methods and techniques for
collecting, recording and analyzing the data.
6. Tool for decision-making - The marketing manager has to take many
decisions. For this, he requires a lot of data. Marketing research
provides correct and up-to-date data to the marketing manager. This
helps him to take quick and correct decisions. Therefore, Marketing
research is an important tool for decision-making.
7. Benefits company and consumers - Marketing research is useful to the
company in many ways. It increases the sales and profits of the

company. It helps the company to fight competition and boost its

goodwill in the market. It reduces the marketing risks. In short,
Marketing research brings success to the company. It also brings the
company closer to the consumers. It gives convenience and
satisfaction to the consumers.
8. Similar to military intelligence - Marketing research is a commercial
intelligence-gathering activity. It works similar to military intelligence.
Marketing intelligence first makes a systematic study and only then
takes a business action. Marketing research collects reliable data
about the consumers, the competitors, the market, etc. This data is
then organised and used for planning, decision-making and problem
solving. This data is also further used for introducing new products
and services in the market.
9. Applied research - Applied research is used for solving problems.
Marketing research is used for solving marketing problems.
Therefore, we can say that, Marketing research is also an applied
research. It has a practical value because it is used for solving
present and future problems.
10.

Connected with MIS - Marketing research is a component of

Marketing Information System (MIS). Marketing research and MIS are

interrelated. Both are used to solve marketing problems and to take
marketing decisions.
11.

Reduces gap between producers and consumers - Marketing research

informs producers about the needs and wants of the consumers. The
producers produce goods according to the needs and demands of the
consumers. This brings satisfaction to the consumers and in return

producers make good profits. So, Marketing research reduces the gap
between the producers and the consumers.
12.

Uses different methods - Marketing research uses three methods for

collecting data, viz., Survey Method, Experiment Method and

Observation Method. All three methods are scientific. The researcher
has to use a suitable method for collecting a reliable data.
13.

Has few limitations - Marketing research has few limitations too. It is

not an exact science. So, it does not give accurate results. It provides
suggestions and not solutions. It is also a costly and time-consuming
process.
14.

Accurate data collection and critical analysis - Marketing research

gives much importance to accurate data collection and its critical

analysis. Thus, in a Marketing research, the data must be first
collected accurately. That is, collected data or gathered information
must be accurate, reliable and relevant. Later, this information must
be systematically and critically examined before making any
decisions.