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
The Imperial Bank of India was created in 1921 by merging the three Presidency banks of Madras, Bombay, and Bengal. It served as a quasi-central bank until the RBI was formed. It was later transformed into the State Bank of India in 1955.
In which year were the 14 major private commercial banks nationalized in India?
Correct Answer: B. 1969
On July 19, 1969, the Government of India nationalized 14 major private banks through an ordinance. This was done to ensure that credit was available for the development of agriculture and small industries. A second phase of nationalization of six more banks occurred in 1980.
When was the Planning Commission of India established?
Correct Answer: A. 1950
The Planning Commission was set up on March 15, 1950, as an advisory body to formulate India's Five-Year Plans. It was replaced by NITI Aayog in 2015. The Prime Minister served as its ex-officio chairman.
In which year did the NITI Aayog (National Institution for Transforming India) replace the Planning Commission?
Correct Answer: B. 2015
NITI Aayog was established on January 1, 2015, through a resolution of the Union Cabinet. It acts as a policy think tank for the Government of India. It aims to foster cooperative federalism and provide strategic advice.
The Small Industries Development Organisation (SIDO) was established in which year?
Correct Answer: B. 1954
SIDO was established in 1954 for the promotion and development of small-scale industries in India. It provides consultancy and training services to entrepreneurs. It is now part of the Office of the Development Commissioner (MSME).
When was the Telecom Regulatory Authority of India (TRAI) established?
Correct Answer: B. 1997
TRAI was established on February 20, 1997, by the Telecom Regulatory Authority of India Act. It regulates telecommunication services and ensures fair competition in the sector. Its main goal is to protect the interests of consumers and service providers.
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
The merger of NSSO and CSO into the NSO was approved by the government in May 2019. This was done to streamline statistical operations under the Ministry of Statistics and Programme Implementation. The NSO now serves as the nodal agency for data in India.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) was established in which year?
Correct Answer: B. 1978
DICGC was formed on July 15, 1978, by merging the Deposit Insurance Corporation and the Credit Guarantee Corporation of India. It provides insurance for bank deposits up to a certain limit (currently 5 lakhs). It is a specialized division of the Reserve Bank of India.
When was the Asian Infrastructure Investment Bank (AIIB) formally inaugurated?
Correct Answer: C. 2016
While the articles of agreement were signed in 2015, the AIIB was formally inaugurated in January 2016. It focuses on supporting infrastructure projects across the Asia-Pacific region. The bank has more than 100 member countries globally.
In which year was the European Central Bank (ECB) established?
Correct Answer: C. 1998
The ECB was established on June 1, 1998, as part of the preparations for the introduction of the Euro currency. It manages the monetary policy of the Eurozone countries. Its headquarters is located in Frankfurt, Germany.