Financial Bodies — Set 1
Abbreviations · वित्तीय निकाय · Questions 1–10 of 40
What does the abbreviation IRDAI stand for in the context of the Indian insurance sector?
Correct Answer: B. Insurance Regulatory and Development Authority of India
IRDAI stands for the Insurance Regulatory and Development Authority of India which regulates the insurance industry. It was established following the recommendations of the Malhotra Committee report. The body ensures the protection of the interests of insurance policyholders.
What is the full form of SEBI, the regulator for the securities market in India?
Correct Answer: A. Securities and Exchange Board of India
SEBI stands for the Securities and Exchange Board of India and was established as a statutory body in 1992. It is responsible for protecting investors and regulating the functions of stock exchanges. The organization is headquartered in the business district of Mumbai.
In the global financial context, what does the abbreviation IMF stand for?
Correct Answer: B. International Monetary Fund
The IMF stands for the International Monetary Fund and works to foster global monetary cooperation. It provides financial assistance and policy advice to member countries facing economic crises. Its headquarters is located in Washington, D.C.
What does the term NABARD represent in the Indian financial system?
Correct Answer: C. National Bank for Agriculture and Rural Development
NABARD refers to the National Bank for Agriculture and Rural Development which promotes sustainable rural prosperity. It was established in 1982 to provide credit for agriculture and other economic activities in rural areas. It serves as an apex development financial institution in the country.
What is the full form of the abbreviation FSDC?
Correct Answer: D. Financial Stability and Development Council
FSDC stands for the Financial Stability and Development Council and is chaired by the Union Finance Minister. It aims to strengthen and institutionalize the mechanism for maintaining financial stability. This body also focuses on financial sector development and inter-regulatory coordination.
What does the abbreviation EXIM Bank stand for?
Correct Answer: D. Export-Import Bank of India
EXIM Bank stands for the Export-Import Bank of India and provides financial assistance to exporters and importers. It was set up in 1982 to promote the country's international trade. It acts as a principal financial institution for coordinating the working of institutions engaged in financing exports.
In the context of small industries, what is the full form of SIDBI?
Correct Answer: B. Small Industries Development Bank of India
SIDBI stands for the Small Industries Development Bank of India and was established in 1990. It serves as the principal financial institution for the promotion and development of the MSME sector. The headquarters of this organization is located in Lucknow.
What does the abbreviation PFRDA stand for in the Indian financial regulatory framework?
Correct Answer: A. Pension Fund Regulatory and Development Authority
PFRDA stands for the Pension Fund Regulatory and Development Authority which oversees the National Pension System. It ensures the orderly growth of the pension market and protects the interests of subscribers. It was established by the Government of India to promote old-age income security.
What is the full form of the abbreviation NHB?
Correct Answer: C. National Housing Bank
NHB refers to the National Housing Bank and functions as an apex agency for housing finance. It was set up in 1988 under the National Housing Bank Act. It regulates and provides financial support to housing finance institutions.
What does the abbreviation TRAI stand for in the Indian regulatory context?
Correct Answer: D. Telecom Regulatory Authority of India
TRAI stands for the Telecom Regulatory Authority of India and regulates telecommunications services. It was established to ensure a fair and transparent environment for telecom operators and consumers. It also recommends the prices for spectrum and telecom licenses.