Financial Bodies — Set 2
Days & Years · वित्तीय निकाय · Questions 11–20 of 50
The Asian Development Bank (ADB) was established in which year?
Correct Answer: D. 1966
• **Asian Development Bank (ADB)** = It was established on December 19, 1966, to promote social and economic development in Asia. • **Manila, Philippines** — This city is the headquarters of the ADB. • 💡 Wrong-option analysis: '1960': This is an incorrect establishment year for ADB; '1950': This is an incorrect establishment year for ADB; '1972': This is an incorrect establishment year for ADB.
When was the International Monetary Fund (IMF) officially established?
Correct Answer: A. 1945
• **International Monetary Fund (IMF)** = It formally began operations on December 27, 1945, to ensure international monetary system stability. • **1944** — The IMF was initially conceived in this year, before its formal establishment. • 💡 Wrong-option analysis: '1944': IMF was conceived in this year, but officially established later; '1948': This is an incorrect establishment year for IMF; '1950': This is an incorrect establishment year for IMF.
In which year did the World Bank (IBRD) begin its operations?
Correct Answer: D. 1946
• **World Bank (IBRD)** = It officially began its operations in June 1946, aiding Europe's post-World War II reconstruction. • **1944** — The World Bank was established at the Bretton Woods Conference in this year, before beginning operations. • 💡 Wrong-option analysis: '1944': The World Bank was established in this year, but operations began later; '1945': This is an incorrect year for the start of operations; '1947': This is an incorrect year for the start of operations.
The BRICS New Development Bank (NDB) was established in which year?
Correct Answer: C. 2014
• **New Development Bank (NDB)** = It was established by the BRICS nations in July 2014. • **Shanghai, China** — This city is the headquarters of the NDB. • 💡 Wrong-option analysis: '2010': This is an incorrect establishment year for NDB; '2012': This is an incorrect establishment year for NDB; '2016': This is an incorrect establishment year for NDB.
In which year was the Asian Infrastructure Investment Bank (AIIB) established?
Correct Answer: C. 2016
• **Asian Infrastructure Investment Bank (AIIB)** = It officially began operations in January 2016. • **December 2015** — AIIB was established in this month and year, preceding its official operations. • 💡 Wrong-option analysis: '2012': This is an incorrect establishment year for AIIB; '2014': This is an incorrect establishment year for AIIB; '2018': This is an incorrect establishment year for AIIB.
When was the Bombay Stock Exchange (BSE) established, making it Asia's oldest stock exchange?
Correct Answer: A. 1875
• **Bombay Stock Exchange (BSE)** = It was established in 1875, making it Asia's oldest stock exchange. • **1875** — It was established as 'The Native Share & Stock Brokers' Association' and played a crucial role in the development of the Indian capital market. • 💡 Wrong-option analysis: [Option B]: 1850 is not the year BSE was established; [Option C]: 1890 is an incorrect establishment year; [Option D]: 1901 is not the year of BSE's formation.
The National Stock Exchange (NSE) was established in which year?
Correct Answer: C. 1992
• **National Stock Exchange (NSE)** = It was established in 1992, introducing modern, fully automated electronic trading to India. • **1992** — It was incorporated in this year and recognized as a stock exchange in 1993, with its flagship index being the NIFTY 50. • 💡 Wrong-option analysis: [Option A]: 1988 is not the establishment year for NSE; [Option B]: 1990 is an incorrect year for its formation; [Option D]: 1995 is not when NSE was established.
In which year was the Life Insurance Corporation (LIC) of India established?
Correct Answer: C. 1956
• **Life Insurance Corporation (LIC)** = It was established in 1956, becoming India's largest insurance provider. • **1956** — Established on September 1, after the Parliament passed the Life Insurance of India Act, by merging over 245 insurance companies. • 💡 Wrong-option analysis: [Option A]: 1947 is not the establishment year for LIC; [Option B]: 1950 is an incorrect year of formation; [Option D]: 1962 is not when LIC was founded.
When was the General Insurance Corporation (GIC) of India formed?
Correct Answer: D. 1972
• **General Insurance Corporation (GIC)** = It was formed in 1972, to control and operate the business of general insurance in India. • **1972** — Incorporated on November 22, under the General Insurance Business (Nationalisation) Act, it now serves as the sole domestic re-insurer. • 💡 Wrong-option analysis: [Option A]: 1970 is not the formation year for GIC; [Option B]: 1980 is an incorrect year; [Option C]: 1975 is not when GIC was established.
In which year was the Competition Commission of India (CCI) established?
Correct Answer: A. 2003
• **Competition Commission of India (CCI)** = It was established in 2003, aiming to prevent activities that adversely affect competition in India. • **2003** — Established by the Central Government on October 14, under the Competition Act, 2002, to ensure freedom of trade in Indian markets. • 💡 Wrong-option analysis: [Option B]: 2001 is not the establishment year for CCI; [Option C]: 2005 is an incorrect year of formation; [Option D]: 2009 is not when CCI was founded.