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Question : The Industrial Development Bank of India was set up in:

Option 1: July 1968

Option 2: July 1966

Option 3: July 1964

Option 4: July 1962


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Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: July 1964


Solution : The correct option is July 1964.

Established on July 1, 1964 , under a parliamentary act, the Industrial Development Bank of India (IDBI) initially operated as a wholly-owned subsidiary of the Reserve Bank of India. Its primary objective was to extend credit and financial aid to the industrial sector in India, with a focus on priority areas.

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