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)
Correct Answer: (iii)-(i)-(ii)
Solution : The correct answer is (iii)-(i)-(ii) .
The correct chronological order of the Development Financial Institutions (DFIs) in India, according to the year they were set up, is as follows:
- Industrial Finance Corporation of India (IFCI): IFCI was established in 1948.
- Industrial Credit and Investment Corporation of India (ICICI): ICICI was founded in 1955.
- Industrial Development Bank of India (IDBI): IDBI was established in 1964.
So, the correct order is IFCI, ICICI, and then IDBI.
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