Question

Arrange the following financial institutions as per their year of establishment in chronological order, starting from the oldest to latest: 

(A) National Bank for Agriculture and Rural Development (NABARD) 
(B) The Industrial Finance Corporation of India (IFCI) 
(C) The Industrial Reconstruction Bank of India (IRBI) 
(D) The Industrial Development Bank of India (IDBI) 
Choose the correct answer from the options given below:
 

• A. (C), (B), (A), (D)
• B. (A), (C), (B), (D)
• C. (B), (C), (A), (D)
• D. (B), (D), (C), (A)

Hint:

Understanding the chronological order of financial institutions helps track the development of India's financial system.

Answer 1

The Correct Option is C

 

Step 1: Overview of financial institutions and their establishment dates. 
We need to arrange these financial institutions by their establishment dates.

Step 2: Chronological Order of Establishment: 
- (B) The Industrial Finance Corporation of India (IFCI) was established in 1948. 

- (C) The Industrial Reconstruction Bank of India (IRBI) was established in 1971. 

- (A) National Bank for Agriculture and Rural Development (NABARD) was established in 1982. 

- (D) The Industrial Development Bank of India (IDBI) was established in 1964.

Step 3: Correct Chronological Order. 
The correct order, starting from the oldest, is: - First, IFCI (1948) - Then, IRBI (1971) - Followed by IDBI (1964) - Finally, NABARD (1982)

Step 4: Conclusion. 
The correct order is (B), (C), (A), (D), so the correct answer is (3).