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Money and Banking (part – II)

📆 September 24, 2024

Total Questions: 268

111. The Apex institution in the field of Industrial finance is India is : [U.P.P.C.S. (Mains) 2017]

Correct Answer: (c) Industrial Development Bank of India
Solution:Industrial Development Bank of India (IDBI) was established in July, 1964 as an apex financial institution for industrial development in the country. It caters to diversified needs of medium and large scale industries in the form of financial assistance, both direct and indirect. Direct assistance is provided by way of underwriting of or direct subscription to industrial securities, soft loans, project loans etc. While indirect assistance is provided in the form of Refinance facilities to industrial concerns. In 2004, Reserve Bank of India incorporated IDBI as a 'scheduled bank' under the RBI Act, 1934.

112. Consider the following : [U.P.S.C (Pre) 1995]

  1. Industrial Finance Corporation of India
  2. Industrial Credit and Investment Corporation of India
  3. Industrial Development Bank of India
  4. Unit Trust of India

The Correct sequence in which the above were established is :

Correct Answer: (a) 1, 2, 4, 3
Solution:The 'Industrial Finance Corporation of India's (IFCI) was established in 1948, 'industrial Credit and Investment Corporation of India' (ICICI) was set up in 1955, 'Industrial Development Bank of India ' (IDBI) was established in July. 1964 and the 'Unit Trust of India (UTI) was established in February, 1964. Hence, the correct sequence is given in option (a).

113. Consider the following financial institutions of India : [U.P.S.C (Pre) 2002]

1. Industrial Finance Corporation of India (IFCI)

2. Industrial Credit and Investment Corporation of India (ICICI)

3. Industrial Development Bank of India (IDBI)

4. National Bank for Agriculture and Rural Development (NABARD)

The correct chronological sequence of the establishment of these institution is :

Correct Answer: (a) 1, 2, 3, 4
Solution:
Institution Year of Establishment 
Industrial Finance Corporation

of India (IFCI)

 1948
Industrial Credit and Investment

Corporation of India (ICICI)

 1955
Industrial Development Bank of India (IDBI) 1964
National Bank for Agriculture and Rural Development (NABARD) 1982

114. Match the List-I with List-II and using the codes given below the lists, select the correct answer : [U.P.U.D.A./L.D.A.(Spl.) (Mains) 2010]

List-I List-II
A. Industrial Credit and Investment

Corporation of India  (ICICI)

 1. 1964
B. Industrial Development Bank of India (IDBI) 2. 1948
C. Industrial Finance Corporation of India (IFCI) 3. 1990
D. Small Industries Development Bank

of India (SIDBI)

 4. 1955

 

Codes :

A B C D
(a)   1 3 2 4
(b)   2 4 3 1
(c)   3 2 1 4
(d)  4 1 2 3

 

 

Correct Answer: (d
Solution:
Institution  Year of Establishment 
ICICI 1955
IDBI 1964
IFCI 1948
SIDBI 1990

115. Match the column-A with the column-B and select the correct answer using the codes given below : [B.P.S.C. (Pre) 2015]

Column- A Column - B 
A.  1955 1. Export-Import Bank of India
B.  1964 2. Industrial Development Bank of India
C.  1982 3. Industrial Credit and Investment Corporation of India
D.  1987 4.  Board of Industrial and Financial Reconstruction

 

Codes :

A B C D
(a)   1 2 3 4
(b)   2 3 1 4
(c)   3 2 1 4
(d)  4 1 2 3

 

Correct Answer: (c)
Solution:Export-Import Bank of India was set up in March, 1982 through Exim Bank Act, 1981. It provides financial assistance to exporters and importers with a view to promoting the country's international trade. IDBI was constituted under Industrial Development Bank of India Act, 1964 as a Development Financial Institution (DFI) and came into being on July 01, 1964. While ICICI was formed in 1955 to provide medium- term and long-term project financing to Indian businesses and Board of Industrial and Financial Reconstruction (BIFR) was set up in January, 1987.

116. Match List-I with List-II and choose the correct answer using the code given below : [U.P.R.O./A.R.O. (Pre) 2023]

List-I List-II
(Banks) (Year of Foundation)
A. Allahabad Bank 1.  1874
B. Punjab National Bank 2.  1881
C. Awadh Commercial Bank 3.  1865
D. The Alliance Bank of Shimla 4.  1894

 

Codes :

A B C D
(a)   4 3 2 1
(b)   1 2 3 4
(c)   3 4 2 1
(d)   2 1 3 4

 

Correct Answer: (c)
Solution:The correctly matched list are as follows :
Banks  Year of Foundation
Allahabad Bank 1865
Punjab National Bank 1894
Awadh (Oudh Commercial Bank 1881
The Alliance Bank of Shimla 1874

Hence, option (c) is the correct answer.

117. Which of the following is a marketing institution ? [U.P.P.C.S. (Mains) 2002]

Correct Answer: (b) SAIL
Solution:Steel Authority of India is a marketing institution, while SEBI (Capital Market), SIDBI ( Microfinance ) and NABARD ( Agricultural credit ) are apex institution in their respective fields.

118. Which one of the following is not an apex institution ? [U.P.P.C.S. (Mains) 2008]

Correct Answer: (a) State Bank of India
Solution:State Bank of India is a commercial bank. So it is not apex institution. While rest are the apex institution in their fields.

119. Arrange the following inn ascending order of time in relation to their establishment : [U.P.P.C.S. (Spl.) (Mains) 2004]

1. LIC
2. IDBI
3. SEBI
4. UTI

Choose the correct answer from the codes given below :

Codes :

(A) 1, 4, 2, 3

(B) 2, 1, 3, 4

(C) 1, 2 3, 4

(D) 1, 3, 4, 2

Correct Answer: (a)
Solution:
Institution  Established in (Year)
Life Insurance Corporation of India (L.I.C) 1956
Unit Trust of India (U.T.I) February, 1964
Industrial Development  Bank of India (IDBI) July, 1964
Securities and Exchange Board of India (SEBI) 1988

120. When was the Life Insurance Corporation of India established ? [B.P.S.C. (Pre) 2008]

Correct Answer: (a) 1956
Solution:
Institution  Established in (Year)
Life Insurance Corporation of India (L.I.C) 1956
Unit Trust of India (U.T.I) February, 1964
Industrial Development  Bank of India (IDBI) July, 1964
Securities and Exchange Board of India (SEBI) 1988
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