Consider the following financial institutions of India: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 establi-shment of these institutions is :
✓ Correct answer: a) 1, 2, 3, 4
ExplanationThe financial institutions listed have played a significant role in the development of India’s industrial, agricultural, and rural sectors.The correct chronological sequence of their establishment based on their founding years is: IFCI (1948) → ICICI (1955) → IDBI (1964) → NABARD (1982).Institution Established Type Focus Role Industrial Finance Corporation of India (IFCI) 1948 Public Sector Non-Banking Finan- cial Company Provides long-term financing for indus- trial projects in sectors such as infrastruc- ture, manufacturing, and power One of the earliest institutions cre- ated to support industrial develop- ment in post-independence India Industrial Credit and Investment Corporation of India (ICICI) 1955 Initially a Devel- opment Financial Institution; evolved into a major private sector bank Provided medium- and long-term project financing for industrial growth; now a leading private sector bank offering a range of financial products Instrumental in financing indus- trial projects and contributing to India’s economic growth Industrial Devel- opment Bank of India (IDBI) 1964 Init
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