Financial Bodies — Set 4
Days & Years · वित्तीय निकाय · Questions 31–40 of 50
The Imperial Bank of India was established in which year?
Correct Answer: B. 1921
• **1921** = The Imperial Bank of India was established by merging the three Presidency banks of Madras, Bombay, and Bengal. • **1955** — The Imperial Bank of India was later transformed into the State Bank of India. • 💡 Wrong-option analysis: '1911' is incorrect; the Imperial Bank was not established in this year; '1935' is the year the Reserve Bank of India was established, not the Imperial Bank; '1947' marks India's independence and is too late for the establishment of the Imperial Bank.
In which year were the 14 major private commercial banks nationalized in India?
Correct Answer: B. 1969
• **1969** = The Government of India nationalized 14 major private banks through an ordinance. • **1980** — A second phase of nationalization, involving six more banks, occurred. • 💡 Wrong-option analysis: '1964' is incorrect; the nationalization of 14 major banks happened later; '1975' is incorrect; this year is not associated with the large-scale bank nationalization; '1980' saw the second phase of nationalization for six banks, not the first for 14.
When was the Planning Commission of India established?
Correct Answer: A. 1950
• **1950** = The Planning Commission was set up as an advisory body to formulate India's Five-Year Plans. • **2015** — The Planning Commission was replaced by NITI Aayog. • 💡 Wrong-option analysis: '1947' is incorrect; India gained independence in this year, but the Planning Commission was established later; '1952' is incorrect; this year is not associated with the establishment of the Planning Commission; '1956' is incorrect; the Planning Commission was established earlier.
In which year did the NITI Aayog (National Institution for Transforming India) replace the Planning Commission?
Correct Answer: B. 2015
• **2015** = NITI Aayog was established through a resolution of the Union Cabinet to replace the Planning Commission. • **January 1, 2015** — This specific date marks the establishment of NITI Aayog. • 💡 Wrong-option analysis: '2014' is incorrect; NITI Aayog was established the following year; '2016' is incorrect; the establishment of NITI Aayog occurred earlier; '2017' is incorrect; this year is not associated with the establishment of NITI Aayog.
The Small Industries Development Organisation (SIDO) was established in which year?
Correct Answer: B. 1954
• **1954** = SIDO was established for the promotion and development of small-scale industries in India. • **Office of the Development Commissioner (MSME)** — SIDO is now a part of this office. • 💡 Wrong-option analysis: '1950' is incorrect; SIDO was established later; '1960' is incorrect; the establishment of SIDO occurred earlier; '1965' is incorrect; this year is not associated with the establishment of SIDO.
When was the Telecom Regulatory Authority of India (TRAI) established?
Correct Answer: B. 1997
• **1997** = TRAI was established by the Telecom Regulatory Authority of India Act to regulate telecommunication services. • **February 20, 1997** — This specific date marks the establishment of TRAI. • 💡 Wrong-option analysis: '1995' is incorrect; TRAI was established two years later; '2000' is incorrect; the establishment of TRAI occurred earlier; '2002' is incorrect; this year is not associated with the establishment of TRAI.
In which year was the National Sample Survey Office (NSSO) merged with the CSO to form the National Statistical Office (NSO)?
Correct Answer: C. 2019
• **2019** = The merger of NSSO and CSO to form the National Statistical Office (NSO) was approved by the government. • **Ministry of Statistics and Programme Implementation** — The merger was done to streamline statistical operations under this ministry. • 💡 Wrong-option analysis: '2015' is incorrect; the merger happened later; '2017' is incorrect; this year is not associated with the NSO merger; '2021' is incorrect; the merger occurred earlier.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) was established in which year?
Correct Answer: B. 1978
• **1978** = DICGC was formed by merging the Deposit Insurance Corporation and the Credit Guarantee Corporation of India. • **5 lakhs** — DICGC provides insurance for bank deposits up to this limit. • 💡 Wrong-option analysis: '1970' is incorrect; DICGC was formed later; '1982' is incorrect; the formation of DICGC occurred earlier; '1961' is incorrect; the Deposit Insurance Corporation was established in 1961, but the DICGC merger happened later.
When was the Asian Infrastructure Investment Bank (AIIB) formally inaugurated?
Correct Answer: C. 2016
• **2016** = The Asian Infrastructure Investment Bank (AIIB) was formally inaugurated. • **100 member countries** — The AIIB has more than this many member countries globally. • 💡 Wrong-option analysis: '2014' is incorrect; AIIB was inaugurated later; '2015' is incorrect; the articles of agreement were signed in 2015, but formal inauguration was in 2016; '2013' is incorrect; this year is not associated with the AIIB's inauguration.
In which year was the European Central Bank (ECB) established?
Correct Answer: C. 1998
• **1998** = The European Central Bank (ECB) was established as part of the preparations for the introduction of the Euro currency. • **Frankfurt, Germany** — The headquarters of the ECB is located here. • 💡 Wrong-option analysis: '1992' is incorrect; this year is not associated with the establishment of the ECB; '1995' is incorrect; the ECB was established later; '2002' is incorrect; this year is associated with the circulation of Euro banknotes and coins, but the ECB was established earlier.