All India Financial Institutions List: The Short Answer
There are five All India Financial Institutions (AIFIs) regulated and supervised by the RBI: EXIM Bank (Mumbai), NABARD (Mumbai), National Housing Bank – NHB (New Delhi), SIDBI (Lucknow) and NaBFID (Mumbai). Each was created by its own Act of Parliament to give long-term or specialised finance to one sector: exports, agriculture and rural areas, housing, small industries (MSMEs) and infrastructure.
Key takeaway for bank exams: Learn the list as "E-N-N-S-N": EXIM 1982 Mumbai, NABARD 1982 Mumbai, NHB 1988 New Delhi, SIDBI 1990 Lucknow, NaBFID (Act of 2021) Mumbai. SIDBI is the only one headquartered in Lucknow, and NHB the only one in New Delhi. NaBFID became the fifth AIFI.
Facts are taken from the RBI's Report on Trend and Progress of Banking 2024-25, RBI notifications that name the five AIFIs and their founding Acts, RBI's July 2026 supervisory directions for AIFIs, and the institutions' own websites, checked in October 2026.
What Are All India Financial Institutions (AIFIs)?
AIFIs are government-owned specialised financial institutions that work at the national level. Unlike banks, they do not take ordinary public deposits; they raise money mainly through bonds, borrowings and government funds, and lend either directly or by refinancing banks and other lenders in their sector.
- Regulator: RBI, using its powers under Sections 45L and 45M of the RBI Act 1934. In July 2026 the RBI issued fresh supervisory directions (cyber security, auditor certificates and more) that apply to EXIM Bank, NABARD, SIDBI, NHB and NaBFID.
- Owner: mainly the Government of India (NABARD and NHB became fully Government-owned after the RBI's stakes were transferred in 2019).
- Also called: Development Financial Institutions (DFIs).
List of All India Financial Institutions with Headquarters (Master Table)
| AIFI | Full form | Set up | Founding Act | Headquarters | Sector |
|---|---|---|---|---|---|
| EXIM Bank | Export-Import Bank of India | 1 January 1982 | Export-Import Bank of India Act, 1981 | Mumbai | Exports, imports and overseas investment |
| NABARD | National Bank for Agriculture and Rural Development | 12 July 1982 | NABARD Act, 1981 | Mumbai | Agriculture and rural development |
| NHB | National Housing Bank | 9 July 1988 | National Housing Bank Act, 1987 | New Delhi | Housing finance |
| SIDBI | Small Industries Development Bank of India | 2 April 1990 | SIDBI Act, 1989 | Lucknow | Micro, small and medium enterprises (MSMEs) |
| NaBFID | National Bank for Financing Infrastructure and Development | Act of 2021 | NaBFID Act, 2021 | Mumbai | Long-term infrastructure finance |
Heads (verified in 2026 news): NABARD Chairman Shaji Krishnan V; NaBFID Managing Director Rajkiran Rai G (both named in the NABARD–NaBFID MoU of August 2026).
EXIM Bank: Functions for Bank Exams
- India's main institution for financing, facilitating and promoting foreign trade.
- Gives export credit to Indian exporters, buyer's credit to foreign buyers of Indian goods, and Lines of Credit (LOCs) to foreign governments on behalf of the Government of India.
- Supports Indian companies' overseas investments and project exports.
- Wholly owned by the Government of India; headquarters Mumbai.
NABARD: Functions for Bank Exams
- Set up on 12 July 1982 on the recommendation of the CRAFICARD (B. Sivaraman Committee); took over the agricultural credit work of the RBI and the old Agricultural Refinance and Development Corporation (ARDC).
- Apex refinance body for agriculture and rural credit: refinances co-operative banks, Regional Rural Banks (RRBs) and commercial banks for farm and rural loans.
- Supervises State Co-operative Banks, District Central Co-operative Banks and RRBs.
- Manages the Rural Infrastructure Development Fund (RIDF) and promotes Self Help Group–Bank Linkage and Farmer Producer Organisations.
- Headquarters Mumbai; fully owned by the Government of India.
NHB (National Housing Bank): Functions for Bank Exams
- Set up on 9 July 1988 under the NHB Act 1987, as the principal agency to promote housing finance institutions.
- Refinances housing loans given by banks, HFCs and others, and runs housing funds for the Government.
- Since August 2019 (Finance (No. 2) Act 2019), regulation of Housing Finance Companies moved to the RBI; NHB continues to supervise HFCs and handle complaints against them.
- Headquarters New Delhi; fully owned by the Government of India.
SIDBI: Functions for Bank Exams
- Set up on 2 April 1990 under the SIDBI Act 1989 as the principal financial institution for the MSME sector.
- Gives direct loans to MSMEs and refinance to banks and NBFCs that lend to them.
- MUDRA (Micro Units Development and Refinance Agency) works as a subsidiary of SIDBI, and the CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) was set up by the Government of India and SIDBI.
- Headquarters Lucknow (SIDBI Tower, Ashok Marg).
NaBFID: The Fifth AIFI
- Created under the National Bank for Financing Infrastructure and Development Act, 2021 as a Development Financial Institution (DFI) for infrastructure.
- The RBI announced that NaBFID would be regulated and supervised as the fifth AIFI, after EXIM Bank, NABARD, NHB and SIDBI.
- Gives long-term loans for roads, power, water and other infrastructure, and helps develop the bond and derivatives market for infrastructure finance.
- In August 2026 it signed an MoU with NABARD to co-finance rural infrastructure (water, sanitation, irrigation, storage).
- Headquarters Mumbai.
Other Development Financial Institutions in India (History)
| Institution | Year | What happened |
|---|---|---|
| IFCI (Industrial Finance Corporation of India) | 1948 | India's first DFI; now IFCI Ltd |
| ICICI | 1955 | Converted into ICICI Bank (merger in 2002) |
| IDBI (Industrial Development Bank of India) | 1964 | Set up as an RBI subsidiary; became IDBI Bank (2004) |
| IIBI (Industrial Investment Bank of India) | 1997 (from IRBI) | Wound up |
| UTI | 1964 | Split in 2003; UTI Mutual Fund continues |
These old DFIs are not current AIFIs. Exams sometimes put IFCI or IDBI as a wrong option for "Which of these is an AIFI regulated by RBI?"
AIFIs vs Banks vs NBFCs (Difference Table)
| Point | AIFI | Commercial bank | NBFC |
|---|---|---|---|
| Created by | Own Act of Parliament | Companies Act + banking licence | Companies Act + RBI registration |
| Public deposits | No | Yes (demand and time) | Only approved NBFC-D (time deposits) |
| Main role | Long-term / refinance for one sector | All-round banking | Lending and investment |
| Regulated by | RBI (Sections 45L, 45M) | RBI (BR Act 1949) | RBI (Chapter IIIB) |
| Example | NABARD, SIDBI | SBI, HDFC Bank | Bajaj Finance |
All India Financial Institutions Quick Revision Table
| Asked as | Answer |
|---|---|
| Number of AIFIs regulated by RBI | 5 |
| AIFIs | EXIM Bank, NABARD, NHB, SIDBI, NaBFID |
| HQ in Lucknow | SIDBI |
| HQ in New Delhi | NHB |
| HQ in Mumbai | EXIM Bank, NABARD, NaBFID |
| NABARD set up / committee | 12 July 1982 / CRAFICARD (B. Sivaraman) |
| SIDBI set up | 2 April 1990 |
| NHB set up | 9 July 1988 |
| EXIM Bank started | 1 January 1982 |
| Newest AIFI | NaBFID (Act of 2021) |
| MUDRA is a subsidiary of | SIDBI |
| RIDF managed by | NABARD |
| India's first DFI | IFCI (1948) |
All India Financial Institutions Questions with Answers (Practice Set)
Q1. Which of the following is NOT an All India Financial Institution regulated by the RBI? (a) NABARD (b) SIDBI (c) IFCI (d) NaBFID Answer: (c). IFCI was India's first DFI but is not one of the five current AIFIs.
Q2. Where is the headquarters of SIDBI? (a) Mumbai (b) New Delhi (c) Lucknow (d) Kolkata Answer: (c). Lucknow.
Q3. National Housing Bank is headquartered in: (a) Mumbai (b) New Delhi (c) Chennai (d) Hyderabad Answer: (b). New Delhi.
Q4. NABARD was set up on the recommendation of which committee? (a) Narasimham Committee (b) CRAFICARD (B. Sivaraman) (c) Nachiket Mor Committee (d) Rangarajan Committee Answer: (b).
Q5. Which institution is the fifth AIFI regulated by the RBI? (a) IDBI (b) NaBFID (c) MUDRA (d) IIFCL Answer: (b). NaBFID, created under the NaBFID Act 2021.
Q6. MUDRA functions as a subsidiary of: (a) NABARD (b) SIDBI (c) NHB (d) EXIM Bank Answer: (b). SIDBI.
Q7. Which AIFI extends Lines of Credit to foreign governments on behalf of the Government of India? (a) EXIM Bank (b) NABARD (c) SIDBI (d) NHB Answer: (a).
Q8. The Rural Infrastructure Development Fund (RIDF) is managed by: (a) RBI (b) SIDBI (c) NABARD (d) NaBFID Answer: (c). NABARD.
Q9. In which year was SIDBI set up? (a) 1982 (b) 1988 (c) 1990 (d) 2021 Answer: (c). 2 April 1990, under the SIDBI Act 1989.
Q10. Which of these supervises Regional Rural Banks and co-operative banks? (a) SIDBI (b) NABARD (c) NHB (d) EXIM Bank Answer: (b). NABARD.
All India Financial Institutions FAQs
How many All India Financial Institutions are there in India?
Five are regulated and supervised by the RBI: EXIM Bank, NABARD, NHB, SIDBI and NaBFID.
Which AIFI is headquartered in Lucknow?
SIDBI (Small Industries Development Bank of India).
Who regulates All India Financial Institutions?
The Reserve Bank of India, under Sections 45L and 45M of the RBI Act 1934.
Is NABARD a bank?
It is called a bank but works as an apex development financial institution. It does not take deposits from the public; it refinances and supervises rural lenders.
What is NaBFID?
The National Bank for Financing Infrastructure and Development, a development financial institution for long-term infrastructure finance created under the NaBFID Act 2021, and the fifth AIFI regulated by the RBI.
Who is the Chairman of NABARD in 2026?
Shaji Krishnan V, as named in the NABARD–NaBFID MoU announced in August 2026.
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