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
• **Reserve Bank of India (RBI)** = The central bank of India was established on April 1, 1935. • **Hilton Young Commission** — Its recommendations were the basis for the RBI's establishment. • 💡 Wrong-option analysis: '1947': India gained independence; '1950': India became a republic; '1921': The Imperial Bank of India was formed in this year.
When was the Securities and Exchange Board of India (SEBI) given statutory powers?
Correct Answer: A. 1992
• **Securities and Exchange Board of India (SEBI)** = It received statutory powers on January 30, 1992, through the SEBI Act. • **1988** — SEBI was initially established in this year, before gaining statutory status. • 💡 Wrong-option analysis: '1988': SEBI was established in this year, but without statutory powers; '1995': This is not the year SEBI received statutory powers; '1990': This is an incorrect year for SEBI's statutory powers.
The Insurance Regulatory and Development Authority of India (IRDAI) was formed in which year?
Correct Answer: A. 1999
• **IRDAI** = It was constituted by the Insurance Regulatory and Development Authority Act, 1999. • **2001** — In this year, IRDAI's headquarters were shifted from Delhi to Hyderabad. • 💡 Wrong-option analysis: '2000': This is not the formation year of IRDAI; '2002': This is an incorrect year for IRDAI's formation; '1995': This is an incorrect year for IRDAI's formation.
In which year was the National Bank for Agriculture and Rural Development (NABARD) established?
Correct Answer: D. 1982
• **NABARD** = It was established on July 12, 1982, following the B. Sivaraman Committee recommendations. • **B. Sivaraman Committee** — Its recommendations were instrumental in the establishment of NABARD. • 💡 Wrong-option analysis: '1980': This is an incorrect year for NABARD's establishment; '1975': This is an incorrect year for NABARD's establishment; '1985': This is an incorrect year for NABARD's establishment.
When did the Small Industries Development Bank of India (SIDBI) start its operations?
Correct Answer: A. 1990
• **Small Industries Development Bank of India (SIDBI)** = It was established on April 2, 1990, under an Act of the Indian Parliament. • **Lucknow** — This city is the headquarters of SIDBI. • 💡 Wrong-option analysis: '1988': This is an incorrect year for SIDBI's operations; '1985': This is an incorrect year for SIDBI's operations; '1992': This is an incorrect year for SIDBI's operations.
In what year was the Industrial Development Bank of India (IDBI) established as a subsidiary of the RBI?
Correct Answer: D. 1964
• **Industrial Development Bank of India (IDBI)** = It was established in July 1964 as a subsidiary of the RBI. • **1976** — In this year, IDBI was granted the status of an autonomous institution. • 💡 Wrong-option analysis: '1955': This is an incorrect establishment year for IDBI; '1960': This is an incorrect establishment year for IDBI; '1970': This is an incorrect establishment year for IDBI.
The Export-Import Bank of India (EXIM Bank) was established in which year?
Correct Answer: A. 1982
• **Export-Import Bank of India (EXIM Bank)** = It was established by the Government of India in 1982 under a specific Act. • **Foreign trade** — EXIM Bank's primary objective is to promote and finance foreign trade. • 💡 Wrong-option analysis: '1985': This is an incorrect establishment year for EXIM Bank; '1991': This is an incorrect establishment year for EXIM Bank; '1978': This is an incorrect establishment year for EXIM Bank.
When was the Pension Fund Regulatory and Development Authority (PFRDA) established?
Correct Answer: A. 2003
• **Pension Fund Regulatory and Development Authority (PFRDA)** = It was established by the Government of India on August 23, 2003. • **2014** — In this year, PFRDA officially became a statutory authority. • 💡 Wrong-option analysis: '2001': This is an incorrect establishment year for PFRDA; '2005': This is an incorrect establishment year for PFRDA; '2010': This is an incorrect establishment year for PFRDA.
The National Housing Bank (NHB) was set up in which year?
Correct Answer: D. 1988
• **National Housing Bank (NHB)** = It was established on July 9, 1988, under the National Housing Bank Act, 1987. • **1987** — The National Housing Bank Act, under which NHB was established, was passed in this year. • 💡 Wrong-option analysis: '1985': This is an incorrect establishment year for NHB; '1995': This is an incorrect establishment year for NHB; '1990': This is an incorrect establishment year for NHB.
In which year was the Unit Trust of India (UTI) established?
Correct Answer: A. 1963
• **Unit Trust of India (UTI)** = It was established in 1963 by an Act of Parliament. • **1964** — This was the year UTI officially started its functioning. • 💡 Wrong-option analysis: '1960': This is an incorrect establishment year for UTI; '1970': This is an incorrect establishment year for UTI; '1955': This is an incorrect establishment year for UTI.