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UPSC 2002: 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 establishment of these institutions is
(a)1, 2, 3, 4
(b)2, 3, 4, 1
(c)3, 4, 1, 2
(d)4, 1, 2, 3
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Not attemptedCorrect Answer: (a) 1, 2, 3, 4
The Industrial Finance Corporation of India (IFCI) was set up first in 1948, followed by the Industrial Credit & Investment Corporation of India (ICICI) in 1955, the Industrial Development Bank of India (IDBI) in 1964 and, much later, the National Bank for Agriculture and Rural Development (NABARD) in 1982. Therefore the correct chronological order is 1 → 2 → 3 → 4. ([en.wikipedia.org](https://en.wikipedia.org/wiki/IFCI_Ltd?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2002 Indian Economy question?▼
The correct answer is option (a): 1, 2, 3, 4. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Banking & Financial Sector question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2002, GS Paper 1, as Question 122. It falls under Indian Economy > Banking & Financial Sector.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from Banking & Financial Sector?▼
UPSC has asked 48 questions from Banking & Financial Sector (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.