Financial Bodies — Set 3
Days & Years · वित्तीय निकाय · Questions 21–30 of 50
The National Sample Survey Organisation (NSSO) was set up in which year?
Correct Answer: D. 1950
• **National Sample Survey Organisation (NSSO)** = It was set up in 1950 to conduct large-scale socio-economic surveys in India. • **1950** — It provided data for various planning and policy-making activities and has now been merged into the National Statistical Office (NSO). • 💡 Wrong-option analysis: [Option A]: 1948 is not the year NSSO was set up; [Option B]: 1960 is an incorrect year of establishment; [Option C]: 1955 is not when NSSO was formed.
When was the Industrial Finance Corporation of India (IFCI) established as the first development financial institution?
Correct Answer: D. 1948
• **Industrial Finance Corporation of India (IFCI)** = It was established in 1948 as the first development financial institution. • **1948** — Established on July 1, to provide long-term finance to industrial sectors and currently operates as a Non-Banking Financial Company. • 💡 Wrong-option analysis: [Option A]: 1947 is not the establishment year for IFCI; [Option B]: 1955 is an incorrect year of formation; [Option C]: 1952 is not when IFCI was founded.
In which year was the Central Statistical Organisation (CSO) established?
Correct Answer: A. 1951
• **Central Statistical Organisation (CSO)** = It was established in 1951 for the coordination of statistical activities in India. • **1951** — It is responsible for the preparation of National Accounts Statistics, including GDP, and works under the Ministry of Statistics and Programme Implementation. • 💡 Wrong-option analysis: [Option B]: 1955 is not the establishment year for CSO; [Option C]: 1960 is an incorrect year; [Option D]: 1947 is not when CSO was founded.
The Finance Commission of India was first established in which year?
Correct Answer: D. 1951
• **Finance Commission of India** = It was first established in 1951 under Article 280 of the Constitution. • **1951** — The First Finance Commission was chaired by K. C. Neogy and defines the financial relations between the Union and the States. • 💡 Wrong-option analysis: [Option A]: 1950 is not the year the Finance Commission was first established; [Option B]: 1955 is an incorrect year; [Option C]: 1952 is not when it was founded.
In which year was the State Bank of India (SBI) established after nationalizing the Imperial Bank?
Correct Answer: C. 1955
• **State Bank of India (SBI)** = It was established in 1955 after nationalizing the Imperial Bank, becoming the largest commercial bank in India. • **1955** — Established on July 1, by the State Bank of India Act, succeeding the Imperial Bank of India which was formed in 1921. • 💡 Wrong-option analysis: [Option A]: 1950 is not the establishment year for SBI; [Option B]: 1953 is an incorrect year of formation; [Option D]: 1960 is not when SBI was founded.
The African Development Bank (AfDB) was founded in which year?
Correct Answer: D. 1964
• **African Development Bank (AfDB)** = It was founded in 1964 to promote economic growth and social progress on the African continent. • **1964** — It is headquartered in Abidjan, Côte d'Ivoire, and its mission is to fight poverty and improve living conditions in Africa. • 💡 Wrong-option analysis: [Option A]: 1960 is not the founding year for AfDB; [Option B]: 1955 is an incorrect year; [Option C]: 1970 is not when AfDB was established.
When was the European Bank for Reconstruction and Development (EBRD) established?
Correct Answer: D. 1991
• **European Bank for Reconstruction and Development (EBRD)** = It was established in 1991 to help central and eastern European countries transition to market economies. • **1991** — It was founded after the fall of the Iron Curtain, and its headquarters is located in London. • 💡 Wrong-option analysis: [Option A]: 1989 is not the establishment year for EBRD; [Option B]: 1985 is an incorrect year of formation; [Option C]: 1995 is not when EBRD was founded.
In which year was the Bank for International Settlements (BIS) established?
Correct Answer: D. 1930
• **Bank for International Settlements (BIS)** = It was established in 1930, acting as a bank for central banks and promoting international monetary cooperation. • **1930** — Established on May 17, through an intergovernmental agreement, its headquarters is in Basel, Switzerland. • 💡 Wrong-option analysis: [Option A]: 1920 is not the establishment year for BIS; [Option B]: 1950 is an incorrect year of formation; [Option C]: 1945 is not when BIS was founded.
The Inter-American Development Bank (IDB) was established in which year?
Correct Answer: C. 1959
• **Inter-American Development Bank (IDB)** = It was established in 1959, serving as the largest source of development financing for Latin America and the Caribbean. • **1959** — It works to reduce poverty and inequality, and its headquarters is in Washington, D.C. • 💡 Wrong-option analysis: [Option A]: 1948 is not the establishment year for IDB; [Option B]: 1955 is an incorrect year of formation; [Option D]: 1962 is not when IDB was founded.
When was the Financial Action Task Force (FATF) established by the G7 summit?
Correct Answer: B. 1989
• **Financial Action Task Force (FATF)** = It was established in 1989 by the G7 summit to combat money laundering and terror financing. • **1989** — Established in July at the G7 Summit in Paris, it serves as the global money laundering and terrorist financing watchdog. • 💡 Wrong-option analysis: [Option A]: 1985 is not the establishment year for FATF; [Option C]: 1991 is an incorrect year of formation; [Option D]: 2001 is not when FATF was founded.