Department of Financial Institutions

The Department of Financial Institutions (DFI) oversees the

secure operation of California's state-chartered financial
institutions. DFI ensures public confidence in financial institutions
by protecting the interests of depositors, borrowers, shareholders
and consumers through enforcement of state laws. DFI is
responsible for administering state laws regulating: banks, credit
unions, industrial banks, trust companies, offices of foreign
banks, money transmitters, issuers of travelers checks and
payment instruments/money orders, and premium finance
companies. The Department also administers the Local Agency
Security Program, which ensures that public deposits in California
financial institutions that exceed the federal deposit insurance
limit are secured by pledged assets. In addition to posting
information about the Department and its licensees, the DFI Web
site features consumer tips on a variety of financial topics and
consumer brochures in seven languages. More about DFI...

Department of Financial institutions INDIA

The Financial Institutions in India mainly comprises of the

Central Bank which is better known as the Reserve Bank of India,
the commercial banks, the credit rating agencies, the securities
and exchange board of India, insurance companies and the
specialized financial institutions in India.
Reserve Bank of India:

The Reserve Bank of India was established in the year 1935 with
a view to organize the financial frame work and facilitate fiscal
stability in India. The bank acts as the regulatory authority with
regard to the functioning of the various commercial bank and the
other financial institutions in India. The bank formulates different
rates and policies for the overall improvement of the banking
sector. It issue currency notes and offers aids to the central and
institutions governments.

Commercial Banks in India:

The commercial banks in India are categorized into foreign banks,

private banks and the public sector banks. The commercial banks
indulge in varied activities such as acceptance of deposits, acting
as trustees, offering loans for the different purposes and are even
allowed to collect taxes on behalf of the institutions and central
government.

Credit Rating Agencies in India:

The credit rating agencies in India were mainly formed to assess

the condition of the financial sector and to find out avenues for
more improvement. The credit rating agencies offer various
services as:
• Operation Up gradation
• Training to Employees
• Scrutinize New Projects and find out the weak sections in it
• Rate different sectors
The two most important credit rating agencies in India are:
• CRISIL
• ICRA
Securities and Exchange Board of India:

The securities and exchange board of India, also referred to as

SEBI was founded in the year 1992 in order to protect the
interests of the investors and to facilitate the functioning of the
market intermediaries. They supervise market conditions, register
institutions and indulge in risk management.

Insurance Companies in India:

The insurance companies offer protection against losses. They

deal in life insurance, marine insurance, vehicle insurance and so
on. The insurance companies collect the little saving of the
investors and then reinvest those savings in the market. The
insurance companies are collaborating with different foreign
insurance companies after the liberalization process. This step
has been incorporated to expand the Indian Insurance market and
make it competitive.

Specialized Financial Institutions in India:

The specialized financial institutions in India are government

undertakings that were set up to provide assistance to the
different sectors and thereby cause overall development of the
Indian economy. The significant institutions falling under this
category includes:
• Board for Industrial & Financial Reconstruction
• Export-Import Bank Of India
• Small Industries Development Bank of India
• National Housing Bank
For more information on Financial Institutions in India please refer
to the following links:
Financial Institutions in India
 • Commercial Banks
• Insurance Companies
• Credit rating agencies
• Finance Minister
• The New Role of Finance
• Finance and India's Development
• Micro Finance
• Specialized Financial Institutions
• Online Services Ministry
• IRDA

HOW DO FINANCIAL INSTITUTIONS WILL HELP

ENTREPRENEURS IN INDIA (BANKS LIKE IDBI, IFCI, ICICI,
IRBBI, SFC, NABARD, SIDC’S, SIDIBI, )
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Institutional Assistance to SSI
Entrepreneurship Management
•Industrial Finance Corporation of India (IFCI)

•Industrial Credit and Investment Corporation of India

(ICICI)

•Industrial Development Bank of India (IDBI)

•Maharashtra State Financial Corporation (MSFC)

•State Industrial and InvestmentCorporation of

Maharashtra Limited
(SIICOM)
•Maharashtra Small scale Industries Development
Corporation Ltd
(MSSIDC)

•National Small Industries Corporation (NSIC)

•District Industrial Centres (DIC)

•Technical Consultancy Organisations (TCO)

Industrial Finance Corporation of India
(IFCI)
Entrepreneurship Management
 •Established on July 1, 1948 to cater to the long-term
finance needs
of the industrial sector
•Until the establishment of ICICI in 1956 and IDBI in 1964,
IFCI
remained solely responsible for implementation of the
government’s industrial policy initiatives
•Some sectors that have directly benefited from IFCI’s
disbursals
include:
–Consumer goods industry (textiles, paper, sugar)
– Service industries (hotels, hospitals)
–Basic industries (iron & steel, fertilizers, basic chemicals,
cement)
–Capital & intermediate goods industries (electronics,
synthetic fibers,
synthetic, plastics, miscellaneous chemicals)
– Infrastructure (power generation, telecom services)
•IFCI has sanctioned financial assistance of Rs 462 billion
to 5707
concerns
•IFCI has promoted Technical Consultancy Organizations
(TCOs)
Industrial Credit and Investment
Corporation of India (ICICI)
Entrepreneurship Management
 •Incorporated in 1955 at the initiative of the World Bank,
the
Government of India and representatives of Indian
industry
•Objective of creating a development financial institution
for
providing medium-term and long-term project financing
•ICICI Bank, ICICI Venture, ICICI Securities Limited (i-SEC),
ICICI
Prudential Life Insurance Company, ICICI Lombard
General
Insurance Company Limited
•Activities:
–Underwriting of shares, bonds, stocks
–Provision of loans in foreign currency to pay for imported
equipment
Industrial Development Bank of India
(IDBI)
Entrepreneurship Management
•Incorporated in 1964
•National Stock Exchange of India (NSE), National Securities
Depository Services Ltd. (NSDL), Stock Holding
Corporation of
India (SHCIL) are built by IDBI
•Services offered:
–Loans against securities
–Underwriting
–Loans for modernisation, renovation
–Assist financial institution by subscription to shares,
bonds
–Direct financing of exports
–Refinancing industrial loans granted by banks, financial
institutions
Institutional Finance to Entrepreneurs
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