GS PrelimsEconomyFinancial Institutions and Financial markets2002

Consider the following financial institution of India: 1. Industrial Finance Corporation of India (IFCI) 2. Industrial Credit and Investment Corporation of India (ICICI) 3. Industrial Development Bank of India (IDBI) 4. National Bank for Agriculture and Rural Development (NABARD) The correct chronological sequence of the establishment of these institutions is

A

1, 2, 3, 4

B

2, 3, 4, 1

C

3, 4, 1, 2

D

4, 1, 2, 3

Correct Answer: Option A

Explanation

1. The question asks for the correct chronological sequence (earliest to latest) of the establishment of four major financial institutions in India. 2. Establishment dates: - Industrial Finance Corporation of India (IFCI) (1): Established in 1948. It was the first development finance institution set up. - Industrial Credit and Investment Corporation of India (ICICI) (2): Established in 1955. - Industrial Development Bank of India (IDBI) (3): Established in 1964. - National Bank for Agriculture and Rural Development (NABARD) (4): Established in 1982. 3. Arranging these in chronological sequence from earliest to latest gives: IFCI (1948) -> ICICI (1955) -> IDBI (1964) -> NABARD (1982). 4. This sequence corresponds to 1, 2, 3, 4.

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