Question : Which committee recommended the establishment of the Industrial Finance Corporation of India (IFCI)?
Option 1: Hilton-Young Commission
Option 2: Tarlok Singh Committee
Option 3: V.K.R.V. Rao Committee
Option 4: Kaldor Committee
Correct Answer: Hilton-Young Commission
Solution : The correct answer is (a) Hilton-Young Commission.
The Hilton-Young Commission, officially known as the Royal Commission on Indian Currency and Finance, was formed in 1925 to review and recommend reforms for India's financial and monetary system. The commission, led by Lord Hilton-Young, submitted its report in 1926, which included recommendations for the establishment of specialized financial institutions to promote industrial development in India.
Based on the recommendations of the Hilton-Young Commission, the Industrial Finance Corporation of India (IFCI) was established in 1948. The IFCI was envisioned as a development finance institution aimed at providing long-term financial assistance to industrial projects in India.
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Question : Which among the following is the sole note-issuing authority in India?
Option 1: Industrial Finance Corporation of India
Option 2: National Payments Corporation of India
Option 3: Reserve Bank of India
Option 4: State Bank of India
Question : Arrange the following Development Financial Institutions (DFI) in the correct chronological order, according to the year they were set up.
(i) Industrial Credit and Investment Corporation of India (ICICI)
(ii) Industrial Development Bank of India (IDBI)
(iii) Industrial Finance Corporation of India (IFCI)
Option 1: (i)-(iii)-(ii)
Option 2: (iii)-(i)-(ii)
Option 3: (ii)-(i)-(iii)
Option 4: (i)-(ii)-(iii)
Question : Which among the following banks launched the "Gram Seva Program" across six states in India in October 2022?
Option 1: Industrial Credit and Investment Corporation of India
Option 2: Reserve Bank of India
Option 3: State Bank of India
Option 4: Housing Development Finance Corporation
Question : Which institution has launched the project E-Shakti for the digitisation of all members of self-help groups in India?
Option 1: Small Industries Development Bank of India
Option 2: The Securities and Exchange Board of India
Option 3: Industrial Finance Corporation of India
Option 4: National Bank for Agriculture and Rural Development
Question : ___________ is a financial institution that specializes in providing loans for purchasing homes.
Option 1: Housing Development Finance Corporation (HDFC)
Option 2: Industrial Development Bank of India (IDBI)
Option 3: Small Industries Development Bank of India (SIDBI)
Option 4: Export-Import Bank of India (EXIM Bank)
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