Financial Bodies — Set 1
Days & Years · वित्तीय निकाय · Questions 1–10 of 50
In which year was the Reserve Bank of India (RBI) established?
Correct Answer: A. 1935
The Reserve Bank of India was established on April 1, 1935, based on the Hilton Young Commission's recommendations. It initially started as a private shareholder's bank before nationalization. The RBI serves as the central bank of India overseeing monetary policy.
When was the Securities and Exchange Board of India (SEBI) given statutory powers?
Correct Answer: A. 1992
SEBI was established in 1988 but received statutory status on January 30, 1992, through the SEBI Act. This body regulates the Indian securities market to protect investor interests. Its headquarters is located in Mumbai.
The Insurance Regulatory and Development Authority of India (IRDAI) was formed in which year?
Correct Answer: A. 1999
IRDAI was constituted by the Insurance Regulatory and Development Authority Act, 1999. It acts as the apex body for the insurance sector in India. The body was shifted from Delhi to Hyderabad in 2001.
In which year was the National Bank for Agriculture and Rural Development (NABARD) established?
Correct Answer: D. 1982
NABARD was set up on July 12, 1982, following the recommendations of the B. Sivaraman Committee. It is the primary institution for providing credit in rural areas. It replaced the Agricultural Credit Department of the RBI.
When did the Small Industries Development Bank of India (SIDBI) start its operations?
Correct Answer: A. 1990
SIDBI was established on April 2, 1990, under an Act of the Indian Parliament. It acts as the principal financial institution for the promotion and development of the MSME sector. The bank is headquartered in Lucknow.
In what year was the Industrial Development Bank of India (IDBI) established as a subsidiary of the RBI?
Correct Answer: D. 1964
IDBI was established in July 1964 to provide credit and other financial facilities for the development of the Indian industry. It was later granted the status of an autonomous institution in 1976. Today it operates as a full-service commercial bank.
The Export-Import Bank of India (EXIM Bank) was established in which year?
Correct Answer: A. 1982
EXIM Bank was established by the Government of India in 1982 under the Export-Import Bank of India Act. It provides financial assistance to exporters and importers to promote foreign trade. It acts as a coordinator for institutions engaged in financing international trade.
When was the Pension Fund Regulatory and Development Authority (PFRDA) established?
Correct Answer: A. 2003
PFRDA was established by the Government of India on August 23, 2003. It regulates the National Pension System (NPS) and promotes old-age income security. It became a statutory authority in 2014.
The National Housing Bank (NHB) was set up in which year?
Correct Answer: D. 1988
NHB was established on July 9, 1988, under the National Housing Bank Act, 1987. It operates as the apex level institution for housing finance. NHB was previously a wholly-owned subsidiary of the RBI.
In which year was the Unit Trust of India (UTI) established?
Correct Answer: A. 1963
UTI was established in 1963 by an Act of Parliament and started functioning in 1964. It was the first mutual fund established in India. It was created to encourage savings and investment among small investors.