Money and Banking (part – II)

Total Questions: 268

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

(a) Reserve Bank of India
(b) Industrial Finance Corporation of India
(c) Industrial Development Bank of India
(d) State Bank of India

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]

Industrial Finance Corporation of India
Industrial Credit and Investment Corporation of India
Industrial Development Bank of India
Unit Trust of India

The Correct sequence in which the above were established is :

(a) 1, 2, 4, 3
(b) 1, 3, 2, 4
(c) 4, 3, 2, 1
(d) 1, 4,3, 2

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 :

(a) 1, 2, 3, 4
(b) 2, 3, 4, 1
(c) 3, 4, 1, 2
(d) 4, 1, 2, 3

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 :

Option	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 :

Option	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]

(a) SEBI
(b) SAIL
(c) SIDBI
(d) NABARD

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.

Steel Authority of India (SAIL) is a steel manufacturing enterprise owned and operated by the Ministry of Steel, Government of India.
Facts about SAIL

As of 31 March 2015, SAIL has 93,352 employees, as compared to 170,368 (as of 31 March 2002)
The total requirement of its main raw material, iron ore, is met through its captive mines. To meet its growing requirement, capacities of existing iron ore mines are being expanded and new iron ore mines are being developed.
SAIL produced 13.9 million tonnes of crude steel by operating at 103% of its installed capacity, which is an increase of 1% over the previous year. It also generated 710 MW of electricity during FY 2014-15.

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

(a) State Bank of India
(b) NABARD
(c) SIDBI
(d) State Cooperative Bank

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.

SBI is now India's largest bank. It is a financial services firm that is a public sector bank with a global nature. SBI, based in Mumbai, is the world's 43rd largest bank. The bank is descended from the Bank of Calcutta, created in 1806, making it the Indian Subcontinent's oldest commercial bank. In total, the bank was founded through the acquisitions and mergers of roughly twenty institutions over a while. State Bank of India, a State under Article 12, is governed by the government and Parliament of India and the local and other authorities
mentioned in Article 12 of the Indian Constitution.
The State Bank acts as an agent for the Reserve Bank and fulfils the following tasks:

It serves as the government's bank, collecting money and making payments on the government's behalf, as well as managing public debt.
It serves as a bank for bankers. It accepts deposits from commercial banks and lends them. It also serves as a clearinghouse for commercial banks, rediscounting their bills of exchange and providing remittance services.
It accepts the general public's payments and deposits.
It offers loan facilities against qualified securities, including bills of exchange, goods, promissory notes, real estate or title papers, fully paid corporate shares, debentures, and so on.
Corporate securities, government securities, treasury bills, and railroad securities are among the investments it makes with its surplus cash.

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

(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]

(a) 1956
(b) 1944
(c) 1950
(d) 1947

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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Money and Banking (part – II)

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

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

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

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]

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]

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]

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

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

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

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

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