IFCI along with other All-India Financial/Investment Institutions and Nationalised Banks promoted a Public Limited Company under the name of "Tourism Finance Corporation of India Ltd. (TFCI)" to function as a specialised All-India Development Financial Institution to cater to the financial needs of burgeoning tourism industry. TFCI became operational with effect from 1st February, 1989 on receipt of Certificate of the Commencement of Business from the Registrar of Companies.
The range of TFCI's activities encompass a wide spectrum of tourism-related services: from financial assistance for setting up and / or development of tourism-related activities, tourist-flow surveys, facilities and services for tourists, preparation of tourism master plans, to individual tourism products; from project evaluation exercises to support services for privatization; from planning for amusement/nature parks etc. to undertaking of environmental/carrying-capacity studies.
TFCI provides financial assistance to enterprises for setting up and/or development of tourism-related projects, facilities and services. TFCI has pioneered and innovated various products in financing the diverse needs of the industry such as the first Amusement-cum-Water Park at Mumbai, the first Water Sports Complex at Goa, the Palace on Wheels, the highly acclaimed spa The Ananda at Himalayas, the restoration of heritage resorts namely the Devigarh Palace at Udaipur, conversion of Umaid Bhawan Palace into a resort hotel etc.
Since its inception, TFCI has also provided high-quality research and consultancy services to the tourism industry in general and to the investors in tourism industry in particular. TFCI's range of activities in the Consultancy Division covers tourism-related studies, surveys and project-related services. TFCI has been providing specific project-related services to various clients. It has also undertaken appraisal of individual projects for various state government agencies/individual clients.
Today, TFCI is truly 'Helping Tourism Grow' by taking proactive steps in providing financial assistance for the growing industry and thereby improving its own margin, profitability and other important financial parameters.