Question 1

In which year was the Securities and Exchange Board of India (SEBI) established as a non-statutory body?

Accepted Answer

1988. SEBI was initially formed in 1988 through a resolution of the Government of India. It was later given statutory powers in 1992 through the SEBI Act. This body regulates the securities market to protect the interests of investors.

Question 2

The National Bank for Agriculture and Rural Development (NABARD) was established in which year?

Accepted Answer

1982. NABARD was set up in 1982 to implement the National Bank for Agriculture and Rural Development Act. It serves as a specialized agency to promote sustainable and equitable agriculture. It took over the functions of the Agricultural Credit Department of the RBI.

Question 3

When was the Insurance Regulatory and Development Authority (IRDAI) established?

Accepted Answer

1999. IRDAI was formed in 1999 following the recommendations of the Malhotra Committee. It is an autonomous statutory body that regulates and promotes the insurance industry in India. The body ensures the financial security of policyholders across the nation.

Question 4

The Telecom Regulatory Authority of India (TRAI) was set up by the government in which year?

Accepted Answer

1997. TRAI was established in 1997 to regulate telecommunications services in India. It aims to provide a fair and transparent environment for telecom operators and consumers. It was created through an Act of Parliament to ensure independent regulation.

Question 5

In which year was the NITI Aayog formed, replacing the Planning Commission?

Accepted Answer

2015. NITI Aayog was established on January 1, 2015, to serve as a policy think tank. It emphasizes cooperative federalism and a bottom-up approach to economic policy. The Prime Minister of India serves as the Ex-officio Chairman of this body.

Govt Organizations — Set 1