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
The ADB was established on December 19, 1966, to promote social and economic development in Asia. It is headquartered in Manila, Philippines. India is a founding member of this regional development bank.
When was the International Monetary Fund (IMF) officially established?
Correct Answer: A. 1945
The IMF was conceived in 1944 and formally began operations on December 27, 1945. It was created to ensure the stability of the international monetary system. Its headquarters is located in Washington, D.C.
In which year did the World Bank (IBRD) begin its operations?
Correct Answer: D. 1946
While the World Bank was established at the Bretton Woods Conference in 1944, it officially began operations in June 1946. Its primary goal was to aid the reconstruction of Europe after World War II. It now focuses on poverty reduction in developing countries.
The BRICS New Development Bank (NDB) was established in which year?
Correct Answer: C. 2014
The NDB was established by the BRICS nations (Brazil, Russia, India, China, and South Africa) in July 2014. It aims to support public or private projects through loans and equity participation. The bank is headquartered in Shanghai, China.
In which year was the Asian Infrastructure Investment Bank (AIIB) established?
Correct Answer: C. 2016
The AIIB was established in December 2015 and officially began operations in January 2016. It is a multilateral development bank that aims to improve economic outcomes in Asia. China is the largest shareholder in this institution.
When was the Bombay Stock Exchange (BSE) established, making it Asia's oldest stock exchange?
Correct Answer: A. 1875
The BSE was established in 1875 as 'The Native Share & Stock Brokers' Association'. It played a crucial role in the development of the Indian capital market. Its benchmark index is known as the SENSEX.
The National Stock Exchange (NSE) was established in which year?
Correct Answer: C. 1992
The NSE was incorporated in 1992 and recognized as a stock exchange in 1993. It introduced modern, fully automated electronic trading to India. Its flagship index is the NIFTY 50.
In which year was the Life Insurance Corporation (LIC) of India established?
Correct Answer: C. 1956
LIC was established on September 1, 1956, after the Parliament passed the Life Insurance of India Act. It was created by merging over 245 insurance companies and provident societies. It is currently the largest insurance provider in India.
When was the General Insurance Corporation (GIC) of India formed?
Correct Answer: D. 1972
GIC was incorporated on November 22, 1972, under the General Insurance Business (Nationalisation) Act. It was formed to control and operate the business of general insurance in India. Today, it serves as the sole domestic re-insurer.
In which year was the Competition Commission of India (CCI) established?
Correct Answer: A. 2003
The CCI was established by the Central Government on October 14, 2003, under the Competition Act, 2002. It aims to prevent activities that have an adverse effect on competition in India. It also ensures freedom of trade in the Indian markets.