Which is the correct chronological order in which the following Institutions were set up in India?
A. IDBI.
B. SIDBI
C. IFCI.
D. ICICI
A. IDBI.
B. SIDBI
C. IFCI.
D. ICICI
Answer & explanation
Correct answer: option 1
IFCI was established as a statutory corporation on 1st July 1948 by a special Act passed in the Parliament, IFCI Act, 1948.
Industrial Credit and Investment Corporation of India(ICICI) was established as a joint stock company in the private sector in 1955.
The Industrial Development Bank of India was set up in July 1964 as a wholly owned subsidiary of the Reserve Bank of India.
SIDBI was established in April 1990, as a wholly owned subsidiary of IDBI, under the Small Industries Development Bank of India Act, 1990.
Industrial Credit and Investment Corporation of India(ICICI) was established as a joint stock company in the private sector in 1955.
The Industrial Development Bank of India was set up in July 1964 as a wholly owned subsidiary of the Reserve Bank of India.
SIDBI was established in April 1990, as a wholly owned subsidiary of IDBI, under the Small Industries Development Bank of India Act, 1990.