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UPSC 2004: Consider the following statements: 1. The National Housing Bank, the apex institution of housing finance in India, was set up as a wholly-owned subsidiary of the Reserve Bank of India. 2. The Small Industries Development Bank of India was established as a wholly-owned subsidiary of the Industrial Development Bank of India. Which of the statements given above is/are correct?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2
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Not attemptedCorrect Answer: (c) Both 1 and 2
National Housing Bank was created on 9 July 1988 under the NHB Act, 1987 with 100 % of its paid-up capital subscribed by the Reserve Bank of India, making it a wholly-owned RBI subsidiary when it was set up. Small Industries Development Bank of India was established on 2 April 1990 as a wholly-owned subsidiary of Industrial Development Bank of India and remained so until it was later delinked in 2000. Hence both statements are correct. ([nhb.org.in](https://www.nhb.org.in/brochure/?utm_source=openai))
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What is the correct answer to this UPSC 2004 Indian Economy question?▼
The correct answer is option (c): Both 1 and 2. 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 2004, GS Paper 1, as Question 47. 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.